Meatless Farm acquired by VFC following reports of potential insolvency
After reports that Yorkshire plant-based manufacturer Meatless Farm had made redundancies and appointed an insolvency firm, the company has been acquired by vegan food manufacturer VFC.
The Meatless Farm brand will be retained, with the product range diversifying VFC Foods’ existing plant-based chick*n portfolio.
VFC said that the acquisition of Meatless Farm marks “a crucial milestone” in the company’s growth strategy and its mission to provide more vegan products across retail and foodservice.
VFC Foods co-founder, Adam Lyons, said: “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.”
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’ 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.”
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