Alt-dairy food manufacturer Plant Veda has completed the acquisition of Canadian plant-based ice cream manufacturer, Nora’s Non-Dairy.

Nora’s Non-Dairy was founded in 2017 and its cashew-based ice creams are sold in over 250 stores across Canada, including major retailers Safeway and Whole Foods Market.

Plant Veda is a plant-based dairy company based in Vancouver, Canada. The company states that Nora’s aligns with its portfolio due to the ice cream’s simple ingredient profile and sustainable paper-based packaging.

With funding from Protein Industries Canada, the co-founders of Nora’s are working on launching a new line of nut-free ice creams with Plant Veda’s oat milk base later in the year.

Nora’s co-founders, Katherine Backman and Tyler Bothwell, said: “The Plant Veda team shares our enthusiasm for plant-based foods and the Nora’s product line-up aligns perfectly with their innovative products. We are excited for the next phase of growth, especially the plans for oat milk-based ice cream and further development of the foodservice business.”

Pursuant to the terms of a share purchase agreement, a total of 1,530,613 common shares of Plant Veda were issued to Nora’s shareholders at a deemed price of CAD 0.196, subject to a voluntary escrow.

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