PLANT-BASED MERGERS AND ACQUISITIONS

In the past few years, as food giants struggle to keep up with the growing population opting for a plant-based lifestyle, the market has witnessed a growing number of M&A in the plant-based food industry.


The U.S. market for plant-based protein is estimated at $600 million, with the refrigerated category representing more than $110 million and delivering double-digit annual growth. 

In 2016 alone, the global plant-based protein market was $8.35 billion. In 2022, it is estimated to reach $14.22 billion.

 

Below are a list of traditional meat/dairy companies that have chosen to acquire/merge with a plant-based company, all in a bid to capitalise on the rising demand for health foods.

2014

Pinnacle Foods acquired Gardein for $154 million.

Founded in 1998, Pinnacle Foods is a public listed company based in New Jersey that specializes in frozen food, condiments, baking mixes, and packaged meat. 

In 2014, Pinnacle Foods acquired Gardein, a meatless frozen product company based in British Columbia, Canada. All of Gardein products are vegan, and most are kosher.

2017

Campbell acquires Pacific Foods for $700 million.

Pacific Foods produces non-dairy soup, cream, milk, broth, meals and sides.

2015

Hain Celestial Group acquires Mona Group for an undisclosed sum.

Mona Group is a leader in plant-based foods & beverages in Germany and Austria. Their products include soy, oat, rice and nut-based drinks as well as plant-based yogurts, desserts, creamers, and tofu. 

2015

Monde Nissin Corp acquires Quorn Foods for $831 million (£550 million). 

Philippine instant noodles maker, Monde Nissin Corp acquires Quorn Foods, a British meat substitute company. Quorn products are located in 19 countries, and are best known for their frozen meatless meals.

2016

Tyson (US largest meat processor), invested an undisclosed amount for a 5% stake in Beyond Meat.

Beyond Meat is a plant-based meat company that has successfully sold their meatless products next to meat products in supermarket, and on menus in national restaurant chains such as TGI Fridays.

2014

Pinnacle Foods acquired Gardein for $154 million.

Founded in 1998, Pinnacle Foods is a public listed company based in New Jersey that specializes in frozen food, condiments, baking mixes, and packaged meat. 

In 2014, Pinnacle Foods acquired Gardein, a meatless frozen product company based in British Columbia, Canada. All of Gardein products are vegan, and most are kosher.

2017

Nestlé acquires Sweet Earth for an 

undisclosed amount.

Sweet Earth's products are sold in more than 10,000 stores, and are known for their frozen meals, burritos, breakfast sandwiches, and chilled plant-based burgers.

2017

Maple Leaf Foods Inc acquires Field Roast Grain Meat Co for $120 million.

Maple Leaf Foods is the largest distributor of packaged meats in Canada. Acquiring Field Roast Grain Meat Co provides the Toronto-based meat company with a stronger position in the protein industry. Field Roast Grain meat Co is a U.S. vegan meat producer, best known for their vegan sausages.

2017

Maple Leaf Foods Inc acquires Lightlife Foods for $140 million.

Lightlife owns 38% of the U.S. market share of refrigerated plant proteins.

2017

Otsuka Pharmaceutical Co acquired Daiya for $325.97 million. 

Founded in 2008, Daiya is Canada-based and is among the pioneers in developing plant-based cheese alternatives. The company offers over 20 successful plant-based food products found in more than 25,000 stores across North America. 

2017

Cargill Inc invests in Memphis Meats (cell-cultured meat startup) in their $17 million Series A funding round.

World's largest supplier of ground beef, Cargill Inc stated that they "will exit the business of feeding cattle to direct capital toward other investments" and that the company "wants to expand its North America-based protein business by exploring plant-based protein, fish and insects, along with other opportunities linked to livestock and poultry".

2017

Coca Cola acquires AdeS from Unilever (who acquired the company from Bestfoods in 1992) for $575 million. 

 AdeS is the second largest global maker of soy-based beverages.

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