v2food Expands Globally With Ajinomoto Partnership and Daring Foods Acquisition
Australian plant-based meat firm v2food has made waves recently with a series of strategic partnerships and acquisitions. The company, known for its sustainable and nutritious products, has joined forces with Japanese food giant Ajinomoto and acquired US vegan chicken maker Daring Foods. These moves are set to expand v2food's global footprint and accelerate its mission to lead the plant-based protein market.
v2food's latest partnership is with Ajinomoto, a Japanese company with a strong presence in Asia and Africa. Together, they aim to develop next-generation food solutions for these regions, focusing on sustainability and affordability. This collaboration follows v2food's acquisition of Daring Foods, a US-based company with a 45% market share in the unbreaded chicken category, generating $30M in annual revenue.
The acquisition of Daring Foods is expected to provide a strong platform for v2food's US market launch. Daring Foods will continue operating under its own brand, allowing v2food to leverage its established customer base and distribution network. The combined company will create clean-label frozen meals, prioritising taste, nutrition, and affordability.
v2food's CEO, Tim York, anticipates that these strategic moves will hasten the company's goal of becoming a global leader in plant-based protein. York is confident that the acquisition will bring significant benefits, including enhanced product offerings and expanded market reach.
v2food has already made strides in expanding its product portfolio through acquisitions like Soulara and Macros, forming Flexitarian Meal Solutions. The company has also developed innovative technologies, such as methylcellulose-free formulations and natural colour-changing technology using algae, further solidifying its commitment to sustainability and innovation.
With its recent partnerships and acquisitions, v2food is positioning itself as a major player in the global plant-based meat industry. The company's focus on sustainability, nutrition, and affordability, coupled with its innovative technologies, is set to drive growth and market consolidation in the coming years. As the plant-based meat industry continues to 'rationalise', v2food's strategic moves suggest a promising future for the company and its customers.
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