Two rival plant-based meat manufacturers have merged, the first deal in an expected wave of consolidation.
All G Foods and Fenn Foods are the first deal in an expected wave of mergers.Two rival plant-based meat manufacturers have merged in the hopes of stripping out costs to combat falling demand, and marking the start of a consolidation period for the sector.
“It’s very difficult now, yes,” Jan Pacas, chief executive of All G Foods, said. “But is like almond milk, nobody except people in trendy suburbs know about it now, but this flat year will turn into growth as people become educated.” over the last few years, will shutter its manufacturing operations and pass on its restaurant and hospitality clients to the new combined entity.“We needed to split out the businesses because the investor profiles for synthetic biology are different, and the exit profiles are different,” he said.
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