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The Vegan Food Group from the UK acquires Tofutown in Germany

The Vegan Food Group from the UK acquires Tofutown in Germany meat alternatives, Refrigerated Food and Beverage Business

In a strategic move within the food and beverage industry, UK-based The Vegan Food Group (VFG) has expanded its reach in Europe by acquiring German vegan manufacturer Tofutown. VFG, known for brands such as VFC, Meatless Farm, and Clive’s, solidified its position in the market with this undisclosed deal. This acquisition marks VFG’s commitment to growth and profitability, with projected revenues exceeding €100m by 2024.

Tofutown, operating from two sites in Germany, specializes in producing tofu, spreads, and frozen foods. Serving major German retailers including Aldi, Lidl, and Edeka, Tofutown brings a revenue of €60m to the table. With a workforce of over 300 employees across three manufacturing sites, VFG is poised for accelerated growth in chilled, frozen, and ambient products in both retail and foodservice sectors.

Under the leadership of CEO Dave Sparrow, VFG is set to capitalize on the acquisition to expand its presence in the UK and EU markets. This acquisition adds to a string of successful mergers and acquisitions that have shaped VFG’s trajectory in the plant-based food industry.

VFG’s evolution from VFC Foods to The Vegan Food Group has been marked by strategic acquisitions, including the purchase of Clive’s Purely Plants and the Meatless Farm brand. Investor Veg Capital, led by Veganuary founder Matthew Glover, has also played a significant role in VFG’s growth. Against the backdrop of industry challenges, VFG remains committed to driving innovation and market consolidation.

Highlighting the significance of the Tofutown deal, Glover emphasized the importance of consolidation in the plant-based food sector. With a strong foothold in both German and UK markets, Tofutown is well-positioned for sustained growth in the coming years. This acquisition marks a strategic milestone for VFG as it navigates the evolving landscape of the food and beverage industry.

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