Alt meat company Very Good is looking at acquisitions
The Very Good Food Co., the parent of The Very Good Butchers plant-based brand, is actively weighing acquisitions to build out the business, CEO and co-founder Mitchell Scott tells me.
Why it matters: With competition and growth heating up in the plant-based protein category, and huge amounts of investor dollars in pursuit, early entrants are eager to stake out their territory.
Between the lines: Acquisition targets would be similar to its new category purchase of vegan cheese company, The Cultured Nut, a little over a year ago.
- Other areas of expansion could include plant-based seafood or frozen entries that incorporate plant-based ingredients.
Catch up fast: The Very Good Food Co. raised C$600,000 on Canadian private markets investment platform, FrontFundr, in 2018.
- Last year it raised US$30 million via a direct offering to invest in scaling the company, including M&A.
Of note: Historically, the food company has worked with investment bank Canaccord Genuity, particularly in regard to debt financing.