Stockeld Dreamery, a Swedish dairy-free startup, has officially ceased operations amid a broader decline in the plant-based sector.
On October 23, founder and CEO Sorosh Tavakoli announced the closure via a LinkedIn post, stating that this decision was unavoidable.
“We finally got into Whole Foods… only to decide to shut down the business. It’s not the ending I imagined after six years of building Stockeld Dreamery, but it’s the right one,” he shared.
Founded in Stockholm in 2019 as Noquo Foods and later rebranded, Stockeld specialized in two plant-based offerings: Cultured Cream Cheese made from lentils and chickpeas, and Melt Cultured Slices, crafted from cultured legumes.
In his announcement, Tavakoli explained, “the intense decline in plant-based these last years made it nearly impossible for an independent cheese company to grow.”
He further elaborated, “Even worse, our ambitions to sell our cheese to dairy eaters feel[s] further away than ever. As we prepared for another fundraise, we realized that we simply didn’t have the momentum to justify more capital, so we decided to close in a responsible way.”
Tavakoli also mentioned that the company is seeking “a new home” for its intellectual property and welcomes inquiries from interested parties.
At its peak, Stockeld showcased its products across over 500 locations in 30 states in the US, including vendors like Plantega and Apollo Bagels in New York.
Additionally, the company achieved listings at 17 Whole Foods locations in New York City and secured a partnership with the grocery delivery service Fresh Direct, as reported by the agri-food investment news outlet AgFunderNews.
“We’ll gradually be taken off menus and shelves in the next few months,” Tavakoli noted in his LinkedIn update.
Stockeld Dreamery had also distributed its products in Sweden, primarily through ICA, though no items were available online at the time of reporting. Just Food is currently seeking confirmation from the CEO regarding when the business stopped selling in Sweden.
This closure adds to a series of unfortunate events this year within the plant-based dairy segment.
In June, Bel Group announced plans to discontinue its dairy-free Nurishh brand by year’s end, citing significant challenges in achieving profitability.
This shutdown will also result in the closure of its Saint-Nazaire production facility, impacting around 30 employees.
Bel, which owns well-known cheese brands like The Laughing Cow and Boursin, acquired the facility after purchasing a majority stake in Saint-Nazaire-based All In Foods in 2020.
Despite discontinuing Nurishh, Bel reaffirmed its commitment to the sector, emphasizing, “plant-based remains a key pillar of our strategy.”
Additionally, in January, Amsterdam-based alternative dairy producer Willicroft confirmed its closure, having failed to secure necessary funding.
