Plant-based egg substitute producer, Eat Just, has partnered with an investment consortium to establish a plant protein production facility in Singapore that will serve the Asian market. The consortium, led by Proterra Investment Partners Asia, will provide up to $100 million in funding to build and operate the factory, while Eat Just will invest up to $20 million. The resulting Eat Just subsidiary – Eat Just Asia – will serve Just Egg manufacturing and distribution partners across the continent. Just Egg is a plant-based, dairy-free product which reportedly mimics the properties of egg. The egg alternative is made with protein derived from mung beans and is available in pourable liquid and pre-baked patty formats. Eat Just also offers a mayonnaise substitute. The new factory, the company’s first in Asia, will generate thousands of metric tons of protein, according to Eat Just. “This partnership will further accelerate our path to become one of the world's largest producers of eggs in the next decade,” said Josh Tetrick, co-founder and CEO of Eat Just. “Proterra’s experience across sourcing and manufacturing will be invaluable. Consumer demand, driven by health, food security and food safety, is creating an environment of extraordinary opportunity for this unique partnership.” Tai Lin, managing partner of Proterra Asia, added: “Proterra is excited to announce this collaboration to form a strategic alliance with Eat Just for Asia; we would like to help consumers across Asia get better access to the excellent plant-based egg product by establishing a fully integrated supply chain within Eat Just Asia.” Outside of the Just Egg protein partnership, Eat Just and Proterra Asia are said to be in discussions to expand their alliance to encompass the commercial production of cultured meat. Earlier this year, Eat Just partnered with Michael Foods, a subsidiary of Post Holdings, to scale up supply of Just Egg in the US.

Australian start-up V2food has raised AUD $77 million ($54.5 million approx.) in Series B funding to grow its plant-based meat operation. The company, which officially launched in October 2019, worked with Australia’s national science agency CSIRO to create products that “look like meat, cook like meat and taste like meat”. Made using protein extracted from legumes, V2food’s ‘mince’ contains added fibre and nutrients. Main Sequence Ventures and Horizons Ventures were among the supporters of V2food’s Series A round to now back its Series B financing push. They were joined by new investors including ABC World Asia, Altitude Partners, China Renaissance, Esenagro, Novel Investments and Temasek. Sydney-headquartered V2food claims that the funding round marks the largest to date in Australia’s plant-based meat sector. According to V2food, the new investment will enable it to complete its production facility in Wodonga, grow its team, and continue to launch products into new markets, including Asia. “As we enter our next phase of growth, we are grateful to have the support of world-renowned investors who share our urgent mission of solving the global food challenge,” said V2food founder and CEO Nick Hazell, who previously served as research director with Mars and then PepsiCo. “V2food has had a global view since our founding, and this investment will help us establish our business in Asia, Europe and the rest of the world.” Phil Morle, partner at Main Sequence Ventures, added: “V2 has gone from strength to strength, and we’re delighted to continue to help Nick and the team take on the global challenge of producing Australian-made plant-based meat that is delicious and environmentally sustainable. “In this round, we are pleased to be joined by an assembly of world-class investors to support the company’s international export ambitions.” #Australia #meatalternatives #v2food

Nestlé has raised its full-year guidance after beating third-quarter expectations with 4.9% organic growth, driven by strong performance by its health products and pet food. While the company previously expected organic growth of 2-3% for the year, Nestlé has now signalled the top range with full-year organic sales growth guidance of around 3%. Strong momentum in the Americas, Nestlé Health Science and Purine PetCare helped offset a slump in the company’s out-of-home sales. For the nine month period, Nestlé’s organic sales grew by 3.5% to CHF 61.9 billion ($68.4 billion). Sales in the Americas zone stood at CHF 25 billion ($27.6 billion), representing 5.1% organic growth. Growth was also supported by the acceleration of Nestlé’s at-home coffee business in the third quarter, with particular demand for Starbucks products, Nespresso and Nescafé. The Swiss giant’s vegetarian and plant-based food products witnessed strong double-digit growth, as did its Nestlé Health Science business. Dairy grew at a high single-digit rate, based on increased demand for fortified milks and home-baking products. Meanwhile, sales of confectionery and water decreased due to their high exposure to out-of-home channels and on-the-go consumption. The maker of KitKat and Quality Street also saw its ecommerce sales grow by 47.6%, reaching 12.3% of total group sales. According to Nestlé, its current strategic reviews – including its North American water unit and Yinlu peanut milk and canned porridge businesses in China – are fully on track, with further progress in its portfolio management made. “We continue to develop our portfolio with speed and discipline. As an example, we are transforming Nestlé Health Science into a nutrition and health powerhouse through a combination of strong organic growth and targeted acquisitions. The recent additions of Zenpep, Vital Proteins and Aimmune Therapeutics are further steps in the expansion of our nutritional health offerings,” said Mark Schneider, Nestlé CEO.

Australian start-up V2food has raised AUD $77 million ($54.5 million approx.) in Series B funding to grow its plant-based meat operation. The company, which officially launched in October 2019, worked with Australia’s national science agency CSIRO to create products that “look like meat, cook like meat and taste like meat”. Made using protein extracted from legumes, V2food’s ‘mince’ contains added fibre and nutrients. Main Sequence Ventures and Horizons Ventures were among the supporters of V2food’s Series A round to now back its Series B financing push. They were joined by new investors including ABC World Asia, Altitude Partners, China Renaissance, Esenagro, Novel Investments and Temasek. Sydney-headquartered V2food claims that the funding round marks the largest to date in Australia’s plant-based meat sector. According to V2food, the new investment will enable it to complete its production facility in Wodonga, grow its team, and continue to launch products into new markets, including Asia. “As we enter our next phase of growth, we are grateful to have the support of world-renowned investors who share our urgent mission of solving the global food challenge,” said V2food founder and CEO Nick Hazell, who previously served as research director with Mars and then PepsiCo. “V2food has had a global view since our founding, and this investment will help us establish our business in Asia, Europe and the rest of the world.” Phil Morle, partner at Main Sequence Ventures, added: “V2 has gone from strength to strength, and we’re delighted to continue to help Nick and the team take on the global challenge of producing Australian-made plant-based meat that is delicious and environmentally sustainable. “In this round, we are pleased to be joined by an assembly of world-class investors to support the company’s international export ambitions.”

Impossible Foods has launched its plant-based meat alternative in Asian grocery stores for the first time, in an effort to accelerate its international growth. The company’s flagship product, Impossible Beef, will go on sale this week in about 200 grocery stores across Hong Kong and Singapore. These include ParknShop, FairPrice and online retailer RedMart. According to Reuters, the launch comes as Impossible Foods awaits approval from Chinese regulators as its key ingredient heme – made via genetically modified yeast – requires approval by the country. The launch marks the first time Impossible Beef has been made available for people at home via retail outside of the US. It follows its debut in select Asian restaurants two years ago. “The world’s most respected chefs consistently tell us that the Impossible Burger blows them away. And we can’t wait for Hong Kong and Singapore’s home chefs to experience the same magic in their own kitchens — whether using Impossible Beef in their traditional family favourites or inventing new recipes that go viral,” said Impossible Foods’ CEO and founder Patrick Brown. Earlier this year, the company secured $200 million in its latest funding round. Meanwhile, Beyond Meat signed a deal which will see it begin the production of its plant-based meat products in China. #ImpossibleFoods #plantbasedmeat #HongKong #Asia #Singapore

Impossible Foods has launched its plant-based meat alternative in Asian grocery stores for the first time, in an effort to accelerate its international growth. The company’s flagship product, Impossible Beef, will go on sale this week in about 200 grocery stores across Hong Kong and Singapore. These include ParknShop, FairPrice and online retailer RedMart. According to Reuters, the launch comes as Impossible Foods awaits approval from Chinese regulators as its key ingredient heme – made via genetically modified yeast – requires approval by the country. The launch marks the first time Impossible Beef has been made available for people at home via retail outside of the US. It follows its debut in select Asian restaurants two years ago. “The world’s most respected chefs consistently tell us that the Impossible Burger blows them away. And we can’t wait for Hong Kong and Singapore’s home chefs to experience the same magic in their own kitchens -- whether using Impossible Beef in their traditional family favourites or inventing new recipes that go viral,” said Impossible Foods’ CEO and founder Patrick Brown. Earlier this year, the company secured $200 million in its latest funding round. Meanwhile, Beyond Meat signed a deal which will see it begin the production of its plant-based meat products in China.

Mrs Crimble’s, a gluten-free brand owned by Wessanen UK, has announced the launch of its second vegan offering; vegan coconut macaroons. Launching in Tesco stores on 23 October, the new vegan coconut macaroons aim to provide more flavour choice for the growing vegan market. The new variety extends Mrs Crimble’s vegan line-up and joins the brand’s vegan-friendly chocolate macaroons that were released last year. Mrs Crimble’s says its vegan chocolate offering – which won a 2020 Great Taste Award – drove incremental sales, secured larger category share and enabled the brand to reach a different consumer base. Described as offering a “rich and fresh flavour profile with hints of tropical coconut flavour”, the vegan-friendly version of its coconut macaroons is also gluten-free. Each macaroon contains 133 calories and reportedly offers a low-calorie snack that is ideal for lunch boxes. Bryan Martins, marketing and category director at Wessanen UK, said: “Mrs Crimble’s is revolutionising the gluten-free bakery market, offering great taste and texture that is never compromised. “As more customers seek vegan alternatives to their favourite cakes, we are proud to launch a vegan option of our Coconut Macaroons. With Mrs Crimble’s vegan line driving incremental sales, the vegan market will continue to be a focus area for the brand.” Mrs Crimble’s vegan coconut macaroons will be available to purchase at Tesco stores across the UK for an RRP of £1.79 per pack of six. #UK #vegan #WessanenUK #glutenfree #MrsCrimbles

Mrs Crimble’s, a gluten-free brand owned by Wessanen UK, has announced the launch of its second vegan offering; vegan coconut macaroons. Launching in Tesco stores on 23 October, the new vegan coconut macaroons aim to provide more flavour choice for the growing vegan market. The new variety extends Mrs Crimble’s vegan line-up and joins the brand's vegan-friendly chocolate macaroons that were released last year. Mrs Crimble’s says its vegan chocolate offering – which won a 2020 Great Taste Award – drove incremental sales, secured larger category share and enabled the brand to reach a different consumer base. Described as offering a “rich and fresh flavour profile with hints of tropical coconut flavour”, the vegan-friendly version of its coconut macaroons is also gluten-free. Each macaroon contains 133 calories and reportedly offers a low-calorie snack that is ideal for lunch boxes. Bryan Martins, marketing and category director at Wessanen UK, said: “Mrs Crimble’s is revolutionising the gluten-free bakery market, offering great taste and texture that is never compromised. “As more customers seek vegan alternatives to their favourite cakes, we are proud to launch a vegan option of our Coconut Macaroons. With Mrs Crimble’s vegan line driving incremental sales, the vegan market will continue to be a focus area for the brand.” Mrs Crimble’s vegan coconut macaroons will be available to purchase at Tesco stores across the UK for an RRP of £1.79 per pack of six.

Danone has recorded a fall in sales of 2.5% on a like-for-like (LFL) basis for its third quarter, a result which the company claims is ‘broadly in line with expectations’. The owner of Evian and Volvic saw an improvement in its Waters business versus the 28% decline in sales seen in Q2. However, sales still dropped 13.5% on an LFL basis, with volumes decreasing 8.1%. The quarter saw a ‘strong acceleration’ of Danone’s Essential Dairy and Plant-based (EDP) division with LFL sales growth of 3.7%. The firm’s Specialized Nutrition business experienced a 5.7% decline in sales in Q3, taking it into negative growth for the first nine months of the year, with a 0.2% decline on an LFL basis. Registering overall sales of €5.82 billion for the quarter, Danone also announced several business changes ‘to progress with its adaptation plans to a new Covid-world’. These include the appointment of two macro-regional CEOs, in charge of Danone international and Danone North America, and a COO in charge of a newly created design-to-delivery function, integrating research & innovation, cycles & procurement, operations, and quality. Meanwhile, the company says that current CFO, Cécile Cabanis, is leaving in February 2021 after 16 years with Danone and will be succeeded by Juergen Esser, current CFO of Danone’s Waters and Africa divisions. Danone has also revealed that it will be conducting a full strategic review of its portfolio of brands, SKUs and assets starting with an immediate review of its strategic options for Argentina, the Vega brand and ‘possibly further assets’. “Our Q3 results reflect how much the Covid-world and its cohort of sanitary measures, border closures, uncertainty in consumer sentiment and some structural changes affect our business,” said Emmanuel Faber, chairman and CEO of Danone. “As we expect continued volatility in our other businesses in the short term, the return of EDP growth beyond 3%, both for Q3 and YTD (and stellar performance of plant-based) is a north star to our ambition to reconnect as soon as possible with our 3-5% mid-term profitable growth agenda. Our discipline on portfolio focus and capital allocation will be an additional enabler.” #bottledwater #Danone #plantbased

Danone has recorded a fall in sales of 2.5% on a like-for-like (LFL) basis for its third quarter, a result which the company claims is ‘broadly in line with expectations’. The owner of Evian and Volvic saw an improvement in its Waters business versus the 28% decline in sales seen in Q2. However, sales still dropped 13.5% on an LFL basis, with volumes decreasing 8.1%. The quarter saw a ‘strong acceleration’ of Danone's Essential Dairy and Plant-based (EDP) division with LFL sales growth of 3.7%. The firm’s Specialized Nutrition business experienced a 5.7% decline in sales in Q3, taking it into negative growth for the first nine months of the year, with a 0.2% decline on an LFL basis. Registering overall sales of €5.82 billion for the quarter, Danone also announced several business changes ‘to progress with its adaptation plans to a new Covid-world’. These include the appointment of two macro-regional CEOs, in charge of Danone international and Danone North America, and a COO in charge of a newly created design-to-delivery function, integrating research & innovation, cycles & procurement, operations, and quality. Meanwhile, the company says that current CFO, Cécile Cabanis, is leaving in February 2021 after 16 years with Danone and will be succeeded by Juergen Esser, current CFO of Danone's Waters and Africa divisions. Danone has also revealed that it will be conducting a full strategic review of its portfolio of brands, SKUs and assets starting with an immediate review of its strategic options for Argentina, the Vega brand and 'possibly further assets'. “Our Q3 results reflect how much the Covid-world and its cohort of sanitary measures, border closures, uncertainty in consumer sentiment and some structural changes affect our business,” said Emmanuel Faber, chairman and CEO of Danone. “As we expect continued volatility in our other businesses in the short term, the return of EDP growth beyond 3%, both for Q3 and YTD (and stellar performance of plant-based) is a north star to our ambition to reconnect as soon as possible with our 3-5% mid-term profitable growth agenda. Our discipline on portfolio focus and capital allocation will be an additional enabler.”

Soreen has released new plant-based loaf bar multipacks in three flavours across the UK, targeting lunch box occasions with its snack-sized products. Available in multipacks of four, the individually wrapped loaf bars come in three flavours: banana, malt and a brand new vegan chocolate variety. The snack-sized vegan bars aim to meet consumer demand for a healthy, on-the-go snack. Soreen claims that each bar of all three variants contains over 30% less sugar and 70% less fat than the average cereal bar. The launch builds on Soreen’s recent launch of a limited-edition chocolate and orange variant in mini loaf form for Easter, while individually wrapped banana variants were made available last September. Soreen marketing director, Bethan Brown, said: “Given the rising popularity of Soreen Loaf Bars, fuelling active lifestyles, we took the decision to add a new flavour that would appeal to a different palate. “Veganism has been a key trend within the food industry for the last few years now, so we’re immensely proud to bring a vegan, plant-based chocolate product to market that retains that flavoursome, treat like taste without being high in sugar or fat – important for a healthy and nutritious diet.” Mark Simester, managing director at Soreen, added: “Our Loaf Bar Multipacks will enable shoppers to grab a healthy choice fast – whether they’re still at home, returning to the office or in need of an energy boost for pre, during or post exercise – this is an ideal, tasty and affordable snack.” Soreen’s new vegan approved loaf bar multipacks are available to purchase now from Ocado. #healthysnacks #Soreen #UK #vegan

Soreen has released new plant-based loaf bar multipacks in three flavours across the UK, targeting lunch box occasions with its snack-sized products. Available in multipacks of four, the individually wrapped loaf bars come in three flavours: banana, malt and a brand new vegan chocolate variety. The snack-sized vegan bars aim to meet consumer demand for a healthy, on-the-go snack. Soreen claims that each bar of all three variants contains over 30% less sugar and 70% less fat than the average cereal bar. The launch builds on Soreen’s recent launch of a limited-edition chocolate and orange variant in mini loaf form for Easter, while individually wrapped banana variants were made available last September. Soreen marketing director, Bethan Brown, said: “Given the rising popularity of Soreen Loaf Bars, fuelling active lifestyles, we took the decision to add a new flavour that would appeal to a different palate. “Veganism has been a key trend within the food industry for the last few years now, so we’re immensely proud to bring a vegan, plant-based chocolate product to market that retains that flavoursome, treat like taste without being high in sugar or fat - important for a healthy and nutritious diet.” Mark Simester, managing director at Soreen, added: “Our Loaf Bar Multipacks will enable shoppers to grab a healthy choice fast - whether they’re still at home, returning to the office or in need of an energy boost for pre, during or post exercise - this is an ideal, tasty and affordable snack.” Soreen’s new vegan approved loaf bar multipacks are available to purchase now from Ocado.