The UK meat-free business has been brought out of administration in a deal worth £12m in sales. This acquisition is a significant step forward for VFC Foods in their growth strategy and mission to offer more vegan products in both retail and foodservice. The company, co-owned by Veganuary founder Matthew Glover, will retain the Meatless Farm brand.
In a statement, the North Yorkshire-based company stated, “The acquisition of Meatless Farm marks a crucial milestone in VFC’s growth strategy and its mission to provide more vegan products across retail and foodservice, with the aim to remove animals from the food chain.”
Last week, Kroll confirmed that it had been appointed as the administrator of the loss-making company in May and had been exploring all options for the business and its assets.
Adam Lyons, co-founder of VFC Foods, expressed his confidence in the acquisition, saying, “Acquiring this remarkable brand is a testament to the hard work of the Meatless Farm team, who have done an exceptional job in developing and establishing quality products. Meatless Farm aligns seamlessly with our growth strategy, and we are confident in the underlying consumer demand for plant-based products.”
Founded in 2016 by Danish national Morten Toft Bech in Leeds, Meatless Farm reported a net loss of £23.5m for the year ending on 31 December 2021, according to the most recent accounts filed with Companies House.
