Plant-based food brand Wicked Kitchen has announced its acquisition, including its associated brands, by Ahimsa Companies. Ahimsa Companies’ mission is to remove animals from the global food system, with a goal to generate opportunities for vertical integration and scale through its industry-wide consolidation activities. The company believes that uniting brands to leverage collective strengths will be critical to the growth and success of the plant-based food and beverage sector, amid crowded product categories and a decrease in investment funding over the past two years. Through its purchase of Wicked Kitchen, Ahimsa will also bring Wicked’s brands, Good Catch and Current Foods, under its portfolio. Ahimsa said it plans to expand Wicked Kitchen’s presence in additional retailers, add foodservice offerings, invest further in innovation and continue to bring its products to the US and UK markets. Wicked Kitchen, founded by chefs and brothers Derek and Chad Sarno, currently has products available in retailers including Target, Wal-Mart and Kroger in the US. The Wicked Kitchen brand family also launched in the UK with Tesco in 2018 and grew to more than 150 products. In a LinkedIn post sharing the news of the acquisition, Derek confirmed that he would no longer be involved in Wicked Kitchen as a founder. He wrote: “I am pleased to announce that the Ahimsa Companies have acquired Wicked Kitchen and continue to license my intellectual property for their products. While I am not involved in day-to-day operations, I am excited to see how they will continue to grow in the plant-based space and utilise my work in their future offerings.” Matt Tullman, group CEO at Ahimsa Companies, said that multiple additional brands, as well as manufacturing and sales enablement businesses, are targeted for acquisition by Ahimsa in the near future, with a goal to vertically integrate and leverage resources to build momentum. “We’ve said all along that consolidation will drive success for the plant-based industry,” said Tullman. “As Ahimsa Companies brings together more brands, it can leverage this strength to help stabilise and shape the new landscape for the plant-based industry.” #WickedKitchen #US

The Plant Base attended a brand-new networking event for the plant-based food and beverage industry this week – the inaugural Veg-net, held at the Stansted Airport Radisson Blu Hotel. The brainchild of One Planet Pizza co-founder Mike Hill, Veg-net’s premise is simple: a business event designed to provide plant-based brands and buyers with the opportunity to connect in a way that is seamless and time-efficient. The concept sounds straightforward, but enabling networking to flow productively – with pre-arranged meetings, complemented by a morning of insightful panel discussions – is quite a unique feat for the industry, particularly when delivered in such an organised and punctual manner! Yet, by the end of the day, a sense of achievement, positivity and collaboration was felt by many attendees, each bringing their passion for the plant-based category and their dedication to accelerating it further into the mainstream. Jagir Mankodi, co-founder of Superfoodio during buyer meetings The event kicked off yesterday (5 June) with a morning of panel insights, beginning with a keynote session featuring The Plant Base’s editor, Melissa Bradshaw, joining as a panellist alongside expert investor Jacob Linden from Kale United; senior buyer at Ocado, Katie Cross; and Ben Davies, CEO of market research solutions firm Vypr. The session was chaired by AJ Sharp, founder of Sharp PR, with a focus on opportunities for growth and the challenges facing the future of the plant-based F&B industry in the UK and beyond. Each panellist shared their perspectives on how plant-based brands can capitalise on growth opportunities. The Plant Base’s Bradshaw spoke about the importance of authenticity and staying clear on your message when building a brand, offering examples of businesses that are seeing success in the category currently thanks to smart marketing, brand authenticity and high-quality products – such as This, Planted and Shicken. Ocado’s Cross delved into the retailer perspective, emphasising that, when pitching to retailers, brands should cover innovation, ease of purchase and no risk to supply as key elements of their value proposition. She highlighted that plant-based food still makes up a small portion of chilled food sales, showing the opportunity for expansion. Cross also spoke about shoppers’ preferences for more whole food ingredients as many consumers seek to shift away from ultra-processed foods. Meanwhile, Kale United’s Linden recommended that brands position everything they do from the point of view of an investor – demonstrating that they know their market, positioning and price. Vypr’s Davies also advised players not to underestimate the time, emotion and investment it takes to build a brand – a worthwhile end goal, but one that requires patience and incredibly hard work. Event organisers (L-R) Amabel Gilding, Mike Hill, Nicoletta Dyble Hall Research conducted by event partners Plant Futures and Vypr was presented by Kym Zielinski, insights specialist at Plant Futures, in an in-depth second session following the keynote. The research, commissioned exclusively for the event, highlighted some interesting findings showing the category’s potential for growth, particularly within the flexitarian and omnivore categories. Findings suggested that there is a mass market audience for plant-based products, with flexitarians and open omnivores representing more than two-thirds of the total consumer market and offering the biggest opportunity. The research revealed that more than half of these two consumer groups had purchased a plant-based meat or dairy alternative product within the last six months, while vegans made up just 11% of the total consumer market. Taste was revealed to be the primary driver of choice for shoppers, closely followed by price and health benefits. Open omnivores are influenced by point-of-purchase nudges, while flexitarians are motivated to seek out products that help them reduce their meat consumption and deliver environmental benefits. Additionally, the research explored on-pack messaging and how this can increase appeal, for example by providing familiarity with brand logo and colours, leading with food imagery to emphasise tastiness, and allowing the consumer to see the product to signal quality and freshness. A further two breakout panel sessions also took place, focused on brand building and finance. The finance and investment panel included Kale United’s Linden alongside Anant Joshi, host of the Plant CEO podcast; and Keith Lesser of Vegan Accountants. Panellists on the brand-building panel included Joe Hill, co-founder of One Planet Pizza; Mitch Lee, head of sales at Purezza and La Fauxmagerie; Jagir Mankodi, co-founder at Superfoodio; and Christa Bloom-Burrows, co-founder of Biff’s. Branding workshop (L-R) Mitch Lee, Purezza and La Fauxmagerie; Joe Hil, One Planet Pizza The beginning of the special pre-arranged 15-minute meetings between brands and buyers then commenced, bringing together brands such as Better Nature Tempeh and US-based Tofurky, with 17 buyers from UK and European retailers, wholesalers and foodservice companies. Everything, from the meeting arrangements to the delicious food – a range of plant-based cakes and pastries to snack on throughout the day, as well as a buffet lunch packed with mouthwatering vegan salads and hot dishes – was meticulously put together by the Veg-net team, culminating in a free networking session, drinks and dinner. The event’s co-founder Hill said: “There’s plenty of opportunity for plant-based founders to grow market penetration with mainstream consumers, and consumer insights really are the key to unlocking these opportunities. It’s great to be able to bring together the plant-based community, connecting like-minded founders with buyers, enabling us to all work together, share collective successes and drive growth in the category.” #events #UK #VegNet

UK protein brand Protein Works has launched a new chilli and mango protein shake, a limited-edition flavour available as part of its Vegan Wondershake range. The sweet and spicy flavour is the result of a competition carried out by Protein Works, in which over 1,400 members of the public submitted their favourite ‘weird and wonderful, guilty pleasure’ flavour combinations. Protein Works said chilli and mango was the ‘clear winner’ among other favourites including feta and watermelon, pickle and chocolate, and ice cream and olive oil. The limited-edition flavour is claimed to be the ‘world’s hottest protein shake,’ offering a sweet flavour that leaves a hint of spice as an aftertaste. Kyle Crowley, nutrition expert at Protein Works, explained that while chilli may not be a common choice for a protein shake flavour, research shows there are health benefits to eating the spice. “Capsaicin, a component of chilli peppers, contains antioxidants which can help reduce the risk of illness and disease,” Crowley said. “Studies have also found chilli has anti-inflammatory properties, which has a number of benefits including boosting mental health.” “Our vegan protein contains pumpkin seed protein which is packed with valuable nutrients like healthy fats, magnesium and zinc. The shake’s spicy element can help stimulate gastric juices, promoting food digestion and nutrient absorption in the stomach, making it easier for your body to absorb the nutrients in your protein shake.” The unique flavour is available in the Vegan Wondershake formula for £26.49 per 30 shakes. #ProteinWorks #proteinshakes #plantbasedprotein #sportsnutrition #UK #highprotein

PeakBridge Growth Fund II has announced its official closure valued at $187 million, pushing its total assets under management to over $250 million. Headquarted in Luxembourg, PeakBridge’s focus is on scalable and sustainable technologies across the agri-food chain, aiming to support businesses that can demonstrate positive long-term impact on global food systems, health and the planet. Alternative protein companies are a key category of interest, with plant-based meat company Rival Foods and animal-free dairy specialist Standing Ovation among its beneficiaries. PeakBridge also focuses on companies innovating in upcycled and sustainable ingredients, such as cocoa-free chocolate food-tech Win-Win and seed upcycling start-up Kern Tec. In a statement shared on LinkedIn, Erich Sieber, founding general partner at PeakBridge, said that the recent close is a vote of confidence in the success of its focused strategy, and is crucial to “changing the food system from the inside out”. Nadav Berger, also a founding general partner, said: “For us, VC stands for value creation and is at the core of what we do. Our team brings to the table a rare mix of experience: food-tech investment pioneers, veteran agri-food industry operators, scientists and financiers. Together with strong industry partnerships, we’re positioned to confront those real-world problems.” PeakBridge is a member of the Edmond de Rothschild Private Equity partnership. Among the fund’s investors are global food companies such as Kraft Heinz, Grupo Bimbo and Puratos. #startups #PeakBridge #foodtech #agrifood #funding #alternativeproteins

UK pie brand Pieminister has collaborated with meat alternatives company This to launch a vegan sausage and bean handheld pie. The innovation launches as part of a new ‘Handy Pies’ range from Pieminister, offering a range of handheld deep-filled pies that can be enjoyed on-the-go, hot or cold. Pieminister Banger & Bean Handy Pie contains This Isn’t Pork sausages, haricot and cannellini beans, and a smoky tomato sauce baked in flaky golden pastry. It is ready to eat but can also be heated in the microwave, air fryer or oven in 15 minutes or less. Jon Simon, Pieminister’s co-founder and MD, explained that the Handy Pie range aims to provide a convenient savoury snack, with sustainably sourced ingredients. He commented: “Following on from the success of our This Isn’t A Chicken & Bacon Pie, which launched last year, it was just a matter of time before we collaborated with This again. Their plant-based sausages are the best out there. Put them together with beans and a rich, smoky tomato sauce and you have a winning pie filling!” The range is now available through Ocado and Tesco stores across the UK, with a RRP of £3.00 per 170g pie. #conveniencefood #This #meatalternatives #plantbasedmeat #UK #altmeat #Pieminister #snacking #pies

Nosh.Bio has revealed it is on track to produce thousands of tons of mycelium protein per year at its new plant in Dresden, Germany. The food-tech start-up, headquartered in Berlin, creates proteins for the alt-meat industry and other food and beverage categories using fermentation technology. Its new Dresden plant previously operated as a brewery and has been repurposed specifically to overcome the scalability challenges faced by alternative protein companies. According to Nosh.Bio, a series of production tests recently conducted at the site have indicated that it will be capable of producing the projected thousands of tons of mycelium protein per year with the first production run expected in 4-5 months. The company has identified suitable designs for fermentation and downstream equipment that can be used to create muscle-like structure in its biomass without the need for extrusion or additives. It is currently in the process of validating and optimising its technology to achieve higher process yields. Nosh has also recently announced the results of a Life Cycle Analysis (LCA) conducted by ClimatePoint, which confirmed that its mycelium protein achieves a 90.7% reduction in CO2 and 98.7% reduction in water usage per kg, compared with a kg of conventional beef. To further reduce its emissions produced, Nosh.Bio is aiming to transition to renewable energy sources and improve energy efficiency in manufacturing and logistics. These measures are expected to reduce existing CO2 emissions by a further 80%. Felipe Lino, Nosh.Bio’s co-founder and CTO, commented: “The results of this study demonstrate that we can successfully produce food for people that minimises pollution and conserves vital resources. As our global population expands and environmental concerns escalate, prioritising sustainability in food production is paramount.” #fungibased #NoshBio #mycelium #plantbasedmeat #altmeat #alternativeproteins #Germany

This month, our Start-up spotlight is on Savvy Sweets, a plant-based functional confectionery brand aiming to bring healthier options to the UK’s sweets category. We speak to the company’s managing director, Chris Dandridge, to find out more. The establishment of Savvy Sweets stemmed from a desire to revolutionise the confectionery industry by offering healthier alternatives without compromising on taste. Inspired by the success of a family business in Australia, we recognised an opportunity to introduce our premium sweets to the UK market. Our long-term mission is to provide consumers with guilt-free indulgence through our range of sweets made from natural ingredients, with a focus on health and taste. We are on a mission to help the nation eat better by offering delicious sweets that contribute to a balanced diet and healthier lifestyle choices. What opportunities can the functional confectionery market bring to the global food and beverage industry? The functional confectionery market offers significant opportunities for the global food and beverage industry by addressing the increasing consumer demand for healthier snack options. This segment allows companies to diversify their product offerings and cater to health-conscious consumers, leveraging ingredients like prebiotics, probiotics and plant-based alternatives to enhance nutritional profiles. Moreover, it fosters innovation and collaboration in product development, driving growth and meeting evolving consumer preferences. Overall, the functional confectionery market represents a promising avenue for industry players to tap into and expand their presence in the ever-evolving food landscape. What are the health and nutrition benefits of Savvy Sweets’ offerings? Savvy Sweets offers a unique combination of features that set it apart from traditional sweets. Its low-calorie, high prebiotic fibre, plant-based and gluten-free attributes demonstrate a commitment to providing healthier alternatives in a market dominated by sugary and unhealthy options. Do you believe that consumers are more ‘savvy’ than ever about gut health and other key dietary health considerations? Yes, absolutely. In today’s health-conscious society, consumers are more knowledgeable and aware of gut health and other key dietary considerations than ever before. With access to vast amounts of information through the internet and social media, people are increasingly educated about the impact of their dietary choices on their overall wellbeing. As a result, there is a growing demand for products that support gut health, promote digestive wellness and offer functional benefits. What ingredients are crucial to giving your sweets the desired taste and textures that consumers crave, while remaining both healthy and plant-based? What sets us apart is our use of soluble corn fibre, a cleaner alternative to the polydextrose used by competitors, which also promotes gut health. Additionally, we utilise Stevia instead of Sucralose, further enhancing our commitment to natural ingredients. What has been the company’s biggest achievement to date? Our biggest achievement to date has been successfully launching our premium confectionery brand in the competitive UK market. Despite challenges and hurdles along the way, we are establishing a strong presence and garnered positive feedback from consumers and partners alike. Our ability to deliver delicious, guilt-free sweets that meet the growing demand for healthier snack options has been instrumental in our success thus far. As we’re relatively new to this journey, we haven’t encountered anything out of the ordinary thus far. However, like many start-ups, one challenge we’ve faced is navigating the complexities of entering a competitive market. Building brand awareness and establishing our presence amid established players has been a key focus. How do you expect the functional sweets, and wider functional foods category, to evolve in the coming years? In the coming years, we expect notable advancements in the functional sweets and wider functional foods sector. As consumers become more aware of the link between diet and health, there will be an increased desire for products that combine enjoyment with nutritional value. This shift is likely to drive innovation in ingredient development, focusing on incorporating functional components such as prebiotics, probiotics and adaptogens into confectionery items. #StartupSpotlight #Australia #Functionalconfectionery #UK #sweets #SavvySweets

US alt-dairy company New Culture has partnered with CJ CheilJedang, the ‘world’s largest’ supplier of bioproducts made from microbial fermentation. The partnership will focus on reducing the cost of New Culture’s animal-free casein protein, unlocking commodity pricing for New Culture’s first product, mozzarella. New Culture is the first company in the world to make dairy mozzarella without cow’s milk. The key ingredient is casein, the ‘cheese stretch’ protein, derived through precision fermentation. CJ CheilJedang brings more than 60 years of experience in fermentation technology, advancing proprietary amino acids for feed and food, savoury flavours and seasoning materials and plant-based protein ingredients. CJ CheilJedang’s expertise spans ten manufacturing sites in seven countries, comprising millions of litres of fermentation capacity across a range of microbial platforms and downstream processing assets. In February, New Culture’s animal-free casein protein received GRAS approval and was cleared for commercial sale, in a ‘world first’ for the precision-fermented dairy sector. New Culture’s co-founder and CSO, Inja Radman, said: “Bringing our animal-free cheese to pizza lovers everywhere means producing it at a large enough scale and low enough cost so we can compete and win on product performance. Our partnership with CJ CheilJedang facilitates access to some of the largest and most sophisticated fermentation facilities on the planet to truly transform the dairy industry.” Seung June Choi, SVP of strategic planning at CJ CheilJedang, commented: “Since our initial investment in New Culture in 2022, the CJ CheilJedang team has continued to be impressed by the company’s technical progress, robust bioprocess and global ambition in the animal-free dairy industry. Whether through commercial manufacturing, procurement, or other technical support, this partnership enables the full scope of our expertise to accelerate New Culture’s growth and market leadership.” This is not CJ CheilJedang’s first foray into the food-tech realm. In October, CJ Foods, a business unit of South Korea-based CJ CheilJedang, announced that it entered into a joint development agreement with South Korean mid-tech company T&R Biofab. Under the JDA, the companies are working to develop alternative meat products using 3D bioprinting. This latest partnership is set to strengthen New Culture’s manufacturing position and path to profitability for its animal-free cheese products. #altdairy #precisionfermentation #US #SouthKorea #NewCulture #CJCheiljedang

UK plant-based meal brand Bol Foods has entered the nutritionally complete meal market with its new line of Power Shakes. Its first-ever whole foods-led RTD nutritionally complete meal, Power Shakes come in three flavour varieties: Vanilla, Salted Caramel and Chocolate. Salted Caramel is a salty, sweet and smooth shake, blending pecans, oats and dates. Vanilla is a dairy-free blend of oats, banana, almonds and coconut, married together with vanilla notes. The Chocolate shake blends smooth cocoa with a hint of hazelnut. Power Shakes are made with a blend of oats, bananas, nuts, dates and coconut. Each 410g bottle is packed with up to 22g protein, 26 vitamins and minerals, and no added sugar, sweeteners, gums or preservatives. Paul Brown, founder and CEO of Bol Foods, said: “The breakfast category is exploding, and we’re so excited to be innovating in this space and bringing busy people the ultimate wholefoods and protein packed solution. My morning usually starts with a workout and I’m always looking for a quick and healthy breakfast when on the move. We’ve taken things to the next level with this range, as it’s not often you find something which tastes so indulgent but is actually good for you. From the lightweight recyclable packaging to the nutritional density and flavour packed inside, we are thrilled for this new launch.” Power Shakes are available to purchase in UK retailers now. #BolFoods #completemeal #shakes #UK

GEA has begun the construction of its new technology centre for alternative proteins in Janesville, Wisconsin, US. The centre, slated to open in 2025, is set to scale-up the production of novel plant-based, microbial and cell-based foods, helping GEA to support manufacturers in meeting the demand for complementary proteins and ingredients that could replace traditional animal-based products. Arpad Csay, lead of GEA’s new food activities in North America, said: “This investment underscores our commitment to innovation and sustainability in the food industry. The technology centre will offer food-tech businesses a platform to develop and de-risk their processes to ensure technological and commercial viability. It helps start-ups in the sector implement a business strategy that requires little upfront investment. This way, we help accelerate the development of market-ready products.” The centre will house pilot lines for cell cultivation and precision fermentation, bridging the gap between benchtop and commercial production of alt-proteins. The 1,200-square-metre site will use energy obtained from renewable sources. Heat pumps and systems powered by electricity will replace the natural gas conventionally used for building technology and process equipment. The site will use a ground-mounted photovoltaic system to generate 290 MWh of electricity per year, exceeding the expected energy required by at least 25% – surplus energy will be fed into the grid. The photovoltaic system is expandable, which means that green energy can continue to be generated when process demands increase in the future. Csay continued: “Novel food production methods are going to gain prominence in the coming decades. This development will require a diverse pool of skilled professionals from operators in the plants to bioprocessing engineers designing production systems and scientists pushing boundaries through research and development. Our technology centre will help develop this future workforce by educating students and young professionals about the underlying biology and bioprocesses. We are excited to work with community colleges and universities to build these competencies in the region.” The new plant will complement GEA’s existing production facility in Janesville and is expected to strengthen the grassroots economy in Midwestern US, as well as enhance the region’s attractiveness for collaborative research projects and other services. In June last year, GEA opened its New Food Application and Technology Centre of Excellence (ATC) in Germany, as a European hub for piloting processes and products for the alternative protein industry. #alternativeproteins #GEA #US

Beyond Meat has unveiled its financial results for the first quarter ending March 30 2024, reporting a nuanced landscape marked by both challenges and opportunities. The company disclosed a net revenue of $75.6 million, showcasing a decrease of 18.0% year-over-year. This dip, attributed primarily to a 16.1% reduction in product volume sold and a 2.3% decline in net revenue per pound, has been a subject of analysis within industry circles. Yet, amidst the financial intricacies, there are notable strategic manoeuvres. Ethan Brown, president and CEO of Beyond Meat, commented: “In Q1, we made solid progress against our 2024 priorities, including: hitting our first quarter revenue objective; reducing operating expenses and cash consumption year-over-year; bringing production in-house to reduce costs and improve quality; and commencing shipments of Beyond IV, the fourth generation of Beyond Burger and Beyond Beef, to our customers, to the praise of nutritionists and consumers alike”. These strides toward efficiency and quality assurance underscore the company’s commitment to resilience in an evolving market. Brown’s strategic foresight is palpable as Beyond Meat navigates the currents of consumer demand and industry competition. Despite challenges, Beyond Meat remains steadfast in its pursuit of sustainable growth. With an eye on bolstering its balance sheet, the company aims to position 2024 as a transformative year, characterised by sustainable and profitable operations. However, the financial narrative unveils nuanced metrics. Gross profit for the quarter amounted to $3.7 million, with a gross margin of 4.9%, down from the previous year’s $6.2 million and 6.7%, respectively. Operating expenses experienced a reduction, totalling $57.1 million compared to $63.9 million in the year-ago period. Notably, this reduction was buoyed by decreased non-production headcount expenses and marketing costs. Yet, uncertainty looms. Macroeconomic challenges, including weakened demand in plant-based meat and concerns over inflation and high interest rates, inject a note of caution into Beyond Meat’s projections. Nevertheless, management reaffirms its outlook for 2024, anticipating net revenues in the range of $315 million to $345 million. #BeyondMeat #financialresults

Plant-based superfood firm Laird Superfood has launched a new protein creamer in the US. The powder, which has 12g of protein per serving, blends into coffee or tea, providing a nutritional and energy boost derived from a proprietary mix of pea, hemp and pumpkin seed protein, alongside naturally occurring MCTs from coconut and the brand’s performance mushroom blend. Jason Vieth, CEO of Laird Superfood, said: “Laird Superfood is excited to be the first-to-market with a plant-based protein coffee creamer that’s made from only clean ingredients that consumers can recognise by name”. “After years of development, we are proud to be launching a protein creamer that is smooth, creamy and delicious. And with 12g of protein in every serving, our new protein creamer introduces an entirely new wellness benefit into our coffee portfolio.” This latest launch follows Laird’s introduction of its Antioxidant Daily Reds supplement drink for muscle recovery in November last year. Laird Superfood Protein Creamer Sweet & Creamy, debuting in the brand’s top-selling flavour, is currently available for $20 on the brand’s website, with availability on Amazon at a later date. #creamer #LairdSuperfood #plantbasedprotein #US