Berlin-based plant-based food retailer Veganz has acquired “significant parts” of cheese alternatives producer Happy Cheeze, which filed for insolvency earlier this year. Veganz will take on Happy Cheeze’s portfolio of 13 plant-based cheese products, including vegan cheese spreads, parmesan, and camembert alternatives.
The acquisition also includes Happy Cheeze’s 1,000m² production facility in Cuxhaven, Lower Saxony. The financial details of the acquisition have not been disclosed. Veganz plans to expand Happy Cheeze’s production range, distribution channels, and production capacities.
Veganz CFO Massimo Garau stated that the acquisition provides new capacity and opportunities for future expansion. The company aims to enter Happy Cheeze’s former distribution channels and potentially sell their own products through these channels.
While the initial focus will be on Germany and the DACH region (Austria and Switzerland), Veganz is exploring options for expansion into other countries. The impact on jobs at Happy Cheeze’s Cuxhaven facility is unknown, but Veganz plans to retain the production site and will require manpower to operate it.
In 2016, Veganz secured a stake from Katjesgreenfood, the investment arm of German confectioner Katjes Group.
