Tuesday, July 23, 2024

VFC rescues Meatless Farm from administration

Vegan food company VFC has acquired Meatless Farm in a deal worth £12m in sales – rescuing the fellow Yorkshire plant-based brand from administration.

The Meatless Farm brand will be retained, with the product range diversifying VFC Foods’ existing plant-based chick*n portfolio.

The acquisition of Meatless Farm marks a crucial milestone in VFC’s growth strategy and its mission to provide more vegan products across retail and foodservice, with the aim to remove animals from the food chain.

Speaking on the acquisition, which was financed from the company’s cash reserves, David Sparrow, CEO of VFC Foods, said: “We are delighted to announce this strategic acquisition, whilst being extremely mindful of the business’s challenges and the impact on the people involved.

“Meatless Farm has built strong consumer awareness, which aligns with our core values, and their exciting product portfolio enhances our existing range. By integrating both brands, we can utilise numerous synergies with valued customers and suppliers, thus driving innovation and extending customer choice.”

Co-founder, Adam Lyons, added: “Acquiring this remarkable brand is a testament to the hard work of the Meatless Farm team, who have done an exceptional job in developing and establishing quality products. Meatless Farm aligns seamlessly with our growth strategy, and we are confident in the underlying consumer demand for plant-based products.”

Matthew Glover, co-founder of both VFC, Veg Capital and Veganuary, stated: “VFC Foods is well positioned to sustainably grow the Meatless Farm brand once the cost-of-living crisis eases, and the plant-based space has experienced further consolidation.

“Reducing our meat consumption is crucial for a healthier, more sustainable future and, at VFC Foods, we will continue developing vegan alternatives which taste so good, they render the need to kill animals obsolete.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.
















Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close