Plant-based food brand Wicked Kitchen has announced the acquisition of US-based alt-protein start-up Current Foods.
Current Foods provides plant-based seafood to foodservice and fine dining locations in the US and Europe.
“Current Foods is a perfect match for Wicked as a global-impact brand with the same mission and complementary products,” said Wicked Kitchen’s CEO Pete Speranza. “With this deal and the Good Catch acquisition, we’re uniquely positioned as consumers continually learn about the environmental impact realities on sea life.”
Current Foods is the second acquisition by Wicked Kitchen within the last year after the company bought Good Catch, a plant-based seafood consumer packaged goods (CPG) brand, in September.
The latest acquisition aims to bring Wicked Kitchen new opportunities, channels and consumers. “We’re able to put the Current Foods brand in the best possible spot to thrive and as a versatile multi-category brand, Wicked Kitchen is the home to do that,” Speranza commented.
According to Wicked Kitchen, it now offers “the largest variety of chef-crafted animal-free CPG in the industry,” available at 90,000 distribution points. Wicked Kitchen currently has more than 150 products in the UK and over 40 products in the US.
The all-stock transition is set to bolster Wicked Kitchen’s foodservice capabilities with plant-based sushi-grade tuna and salmon.
David Barber, partner at Astanor Ventures, the largest investor at Current Foods, said: “Wicked’s commitment to impact and to defining the future of the plant-based market makes them the right home for Current Foods’ high-quality products that combine superior technology and unbeatable flavour to create a vegan sushi-grade alternative to fish”.
Financial terms of the acquisition were not disclosed.
© FoodBev Media Ltd 2023
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