Online plant-based food retailer The Vegan Kind has been bought out of administration in a pre-pack transaction. On 11 October, Interpath was appointed as administrator following a “difficult” 18 months for the business. The vegan food retailer has subsequently been acquired by Lillie SPV, which is controlled by Literacy Capital, according to a Companies House filing. London-based investment company Literacy Capital had been the majority owner of The Vegan Kind since June. In a joint statement, the directors of The Vegan Kind said: “The last 18 months, post lockdown, have been difficult for The Vegan Kind but we are pleased, on behalf of the creditors, that the principal shareholder has acquired the business and its assets”. “This will ensure our customers, up and down the country, can continue to access the widest range of plant-based foods in the UK…We recognise the next few weeks will be a difficult time for our team but we look forward to supporting them and to announcing more exciting plans about the future of The Vegan Kind and the important role it plays in the plant-based community shortly.” #TheVeganKind #UK

Glanbia Performance Nutrition-owned brand Optimum Nutrition has announced the launch of a new plant-based offering, Gold Standard 100% Plant Protein powder. Optimum Nutrition’s Gold Standard 100% Plant Protein includes ingredients such as peas, brown rice and fava beans. The protein powder will be available in two flavours: chocolate fudge and creamy vanilla. According to Glanbia, the new formula is made with 100% vegan ingredients and is expertly crafted with 24g of plant-based protein “to fuel a range of fitness activities”. The new offering also has zero grams of sugar, no artificial flavours, colours or sweeteners, and contains 150 calories per serving. Additionally, the product also contains nine essential amino acids/BCAAs and is fortified with a blend of vitamins and minerals “to help support strength and recovery”. “As the world’s most trusted sports nutrition brand, we constantly have a pulse on emerging trends to meet consumer needs,” said Alan Brooks, brand director at Optimum Nutrition. “With more Americans adopting a plant-based lifestyle or seeking plant-based alternatives, we developed Gold Standard 100% Plant to meet this demand and maintain our ‘gold standard’ quality that consumers expect from the Optimum Nutrition brand.” Both flavours are available in a 12-serving bag for $24.99 and a 20-serving tub for $34.99, with select sizes and flavours available at Walmart stores nationwide. #GlanbiaPerformanceNutrition #OptimumNutrition #US

Possible, a Standard Process brand, has announced the launch of a clean-label, whole food products line, including snack bars, meal bars, Supergreens and protein powders. Using regenerative farming practices and advanced manufacturing technologies designed to protect the vital nutrients found in each ingredient, Standard Process produces and sources quality materials to promote better health and well-being through proper nutrition. The snack bars and supercharged meal bars come in a variety of flavours including Strawberry Beet Almond, Cashew Date Turmeric, Almond Oatmeal Cacao, and Chocolate Almond. The Supergreens powder delivers more than 23 high-quality whole food ingredients and the protein powder, which comes in Vanilla Bean or Chocolate Cacao, is packed with nutrient-dense, organic ingredients. All products are US organic, vegan, non-GMO, non-dairy, gluten-free, clean label, and artificial-free. Many of Possible’s ingredients such as beets, Brussels sprouts and kale, are grown on Standard Process’s certified organic farm in Palmyra, Wisconsin and are prepared in a way that safeguards their nutritional value. #Possible #StandardProcess

Vitasoy International has announced its intention to take full ownership of its joint venture with Bega Cheese, Vitasoy Australia Products. The Hong Kong-based company currently owns 51% of Vitasoy Australia, which makes plant-based beverages and yogurts, through its subsidiary Vita International. Bega became a partner in the joint venture as part of its acquisition of Lion Dairy & Drinks in 2021 and owns a 49% stake through its subsidiary National Foods. Under the terms of the original deal, Vitasoy International has the right to buy out Bega’s holding in the business. In a statement to the Hong Kong Stock Exchange, Vitasoy said that Australia’s Foreign Investment Review Board (FIRB) had granted it permission to move forward with the acquisition. The announcement read: “The board of directors of the company is pleased to announce that the Australian Foreign Investment Review Board has issued a no-objection notification, which confirms the Australian government has no objections to the potential acquisition by Vita International of the remaining 49% of the issued share capital in Vitasoy Australia that is currently held by National Foods”. The statement added: “As at the date of this announcement, and in light of the FIRB approval, it is the intention of the board of Vita International to exercise the call option”. The call option can be exercised from the end of October for a 90-day period. However, Vitasoy highlighted that “shareholders and potential investors in the company should be aware that the exercise of the call option may or may not proceed” and that if it does, the terms are uncertain. #BegaCheese #VitasoyAustralia #VitasoyInternational #Australia #VitaInternational

Minor Figures has announced that it is introducing a new Barista Chai Concentrate, designed to be paired with the brand’s oat milk. The vegan and carbon neutral offering can be enjoyed hot, iced or mixed into a cocktail and is said to have a “sweeter, spicier” recipe than Minor Figures’ previous chai product. Containing only organic ingredients, a 1-litre carton makes 20 chai lattes when the concentrate is mixed one part to four parts oat milk. “Our new Organic Chai Concentrate is an infusion of high-quality loose-leaf teas mixed with the finest natural spices,” said Minor Figures co-founder and CEO, Stuart Forsyth. “It is slow-brewed to capture the purity and intensity of every ingredient. We look forward to hearing what our customers think.” With an RRP of £4.99 per carton, the new offering will be available to order via Amazon, the brand’s website and Ocado later this month. #MinorFigures #UK

Nurture Brands has announced its second acquisition this month, with plant-based confectionery maker Doisy & Dam joining the company’s certified-B Corp portfolio. Founded in 2014, Doisy & Dam makes vegan and palm oil-free chocolates using ethically sourced cocoa and was certified as a B Corp in 2016. It is the second brand to be snapped up by Nurture Brands this October, following a deal for pretzel producer Indie Bay. “Doisy & Dam is a real disrupter because it brings the excitement and formats from the dairy milk category into plant-based chocolate,” said Ben Arbib, founder of Nurture Brands. “Doisy & Dam will broaden Nurture Brands into the confectionery sector, whilst also complementing our better-for-you and sustainability led proposition”. Nurture Brands was founded in March 2019 and its portfolio – which also includes Rebel Kitchen, The Primal Pantry, Jax Coco and Emily – commits 1% of revenue to good causes. Nurture Brands managing director, Adam Draper, said: “We continue to seek disruptive snacking and beverage brands that are plant-based, better-for-you and sustainable, so that we can become the leading partner for all retailers in this space”. #DoisyampDam #IndieBay #NurtureBrands

UK plant-based meal brand Bõl Foods has released two new power shakes packed with 20g of protein and all 26 essential vitamins and minerals. The ready-to-go nutritionally complete meals are available in creamy, savoury and nutty flavour Hazelnut Latte, finished with a shot of espresso, or in tropical flavour Mango and Coconuts. The shakes are designed for foodies with full schedules, perfect as a tasty breakfast on the move, a lunch in a hurry, or a mid-afternoon boost when hunger hits. Bõl Foods founder, Paul Brown, said: “A quarter of adults are skipping breakfast at least once a week, often because there aren’t readily available, healthy, and tasty options for on-the-go. Bõl Power Shakes are the perfect solution for when time isn’t on your side, and you don’t want to compromise. This is reflected in the meal replacement category forecast; set to be worth £15.9 billion by 2025.” The two new flavours join the existing range which includes chocolate peanut butter, vanilla, oats & almond, and chocolate orange. The shakes are available in select Sainsbury’s and Tesco supermarkets across the UK and on the brand’s website, for an RRP of £3.85. #BolFoods #mealreplacement #shake #UK

Beyond Meat and Don Lee Farms have reached a settlement after the two parties were involved in a five year-long legal battle. The settlement relates to a lawsuit filed by Don Lee Farms in 2017 that accused Beyond Meat of breach of contract. According to a statement from the former Beyond Meat co-packer: “Today, the parties entered into a confidential written settlement agreement and mutual release, pursuant to which the parties agreed to dismiss all claims and cross-claims asserted in the state court case and federal court case with prejudice”. Neither party admitted liability or wrongdoing in connection with the case and both are said to be satisfied with the outcome. The terms of the settlement were not disclosed. Don Lee Farms also filed a separate lawsuit against Beyond Meat earlier this year, alleging false advertising and unfair competition. The suit claimed that Beyond Meat overstates the protein content of its products and has falsely marketed them as free from synthetic ingredients. #BeyondMeat #DonLeeFarms

British dairy alternatives brand, The Coconut Collab, has announced the launch of a plant-based and alcohol-free alternative to brandy cream. The limited-edition festive product is said to behave just as its dairy counterpart would, while also emulating the brandy flavour of traditional offerings. Free from palm oil, gluten and soy, The Coconut Collab’s Brandy Cre&m can be enjoyed poured over Christmas pudding or whipped up and dolloped on mince pies. “Off the back of a huge success from our Double Cre&m this summer, we saw an opportunity to innovate into a festive favourite for the winter season,” said the brand’s founder and MD, James Averdieck. “We know Christmas is a special occasion where family, friends and food are integral, and so we wanted to create a delicious product that everyone around the table could enjoy, no matter their dietary or lifestyle choices.” With an RRP of £1.75 per 220ml pot, The Coconut Collab Brandy Cre&m will be available from 9 November in Tesco and 20 November in Waitrose. #Dairyalternatives #TheCoconutCollaborative #UK

The Healing Company (HLCO) has announced its acquisition of plant-based superfoods brand, Your Super. In addition, HLCO has closed a $150 million credit facility from i80 Group, that it says will support further acquisitions. Your Super offers plant-based superfood and protein mixes and is said to have sold more than 5 million products across the US and Europe. Previous investors in the brand include PepsiCo and Beyond Meat backer, PowerPlant Partners. Co-founded by former supplements entrepreneur, Anabel Oelmann, and ex Jet.com and Equinox Media president, Simon Belsham, The Healing Company launched earlier this year and is building a community of “integrated healing brands”. Belsham, who is also the company’s CEO, said: “Your Super is the perfect first acquisition for The Healing Company. With great founders, a powerful brand, robust margins and a fantastic product portfolio in a large and growing sector, Your Super couldn’t be better positioned to succeed in this challenging economy.” The acquisition was financed through a combination of cash and HLCO equity. Deepak Chopra, chief scientific advisor of The Healing Company, said: “Food is medicine, and we now know definitively that plant-based nutrition has immense healing potential as it combats inflammation, which causes more than 80% of chronic disease”. Chopra added: “Your Super has developed clean, plant-based, superfood mixes that help more people benefit from the healing power of plants, and we’re excited to help increase access to their products through this acquisition”. Marc Helwani, founder and CIO of i80 Group, commented: “The Healing Company’s targeted acquisition strategy is highly attractive in the currently challenged economic environment as we’ve seen declining asset prices this year, and we expect them to fall further. The Healing Company’s experienced and visionary team is perfectly positioned to capitalise on this, and we’re proud to partner with them on this venture.” #TheHealingCompany #YourSuper

Narayan Foods has announced plans to launch plant-based honey into European markets in 2023, in what the company claims is a world first. Developed by Californian food tech company MeliBio, the honey is said to be the first to hit the EU market that produces the indistinguishable taste and texture of bee-made honey but does not include processed syrup or concentrates. The unique honey offers the same qualities as honey from bees, boosting immunity and offering bioactive and prebiotic properties. The plant-based honey offers a real taste solution with the nutritional profile of bee-made honey without the negative impact it has on biodiversity. Narayan’s bee-free honey proposes a vegan-friendly alternative, made with only clean-label ingredients, free from seasonal volatility and pesticides. The honey contains some of the same antioxidants as traditional honey and is free from clostridium bacteria, making it safe for new mothers and babies. The plant-based honey will hit the shelves in early January 2023. #Europe #MeliBio #NarayanFoods #Plantbasedhoney

Beyond Meat has scaled back its revenue forecast for the second time in three months and announced further job cuts as well as executive departures. The company had already lowered its outlook in August following weaker-than-expected Q2 results, and at the same time announced that it would cut approximately 4% of its workforce. On Friday, Beyond Meat said it was revising its forecast again and now expects full-year net revenues in the region of $400 million to $425 million, compared with the company’s previous expectation of $470 million to $520 million. Among other factors, the California-headquartered business believes that “ongoing softness” in the plant-based meat category has negatively impacted its performance. According to Beyond Meat, consumers are trading down to cheaper proteins, including animal meat, amid inflationary pressures. Sluggish sales in the US market have prompted some commentators to suggest the plant-based meat category is losing momentum, and earlier this month JBS revealed that it was pulling the plug on its Planterra Foods meat alternative operation. As part of its latest announcement, Beyond Meat said it is reducing its current workforce by around 200 employees, representing approximately 19% of the company’s global workforce. President and CEO, Ethan Brown, commented: “Beyond Meat is implementing measures to drive more sustainable growth, emphasising the achievement of cash flow positive operations within the second half of 2023”. “While we believe the current headwinds facing our business and category – including record inflation – are transient, our mission, brand and long-term opportunity endure. To manage through the current environment and realise the opportunity ahead, we are significantly reducing expenses and sharpening our focus on a set of key growth priorities.” The company has also announced the departure of finance chief Philip Hardin, naming its vice president for financial planning & analysis and investor relations, Lubi Kutua, as his replacement. Meanwhile, COO Doug Ramsey has left the company, weeks after he was suspended on reports of his arrest for allegedly biting a man’s nose. #BeyondMeat #US