CANADA — PlantPlus Foods LLC has completed its acquisition of Canadian processor of tofu as well as fresh and frozen plant-based meat alternatives Sol Cuisine Ltd for approximately C$125 million ($99 million).
Mississauga, Ont.-based Sol Cuisine offers plant-based appetizers, including crispy chicken-style bites, spicy black bean bites, and spinach chickpea bites.
It also has a range of meat-free breakfast patties, Italian style meatballs, tempura filets, hot and spicy wings, Mediterranean style falafel and chicken tenders in its product portfolio.
With the acquisition, PlantPlus will add a range of non-GMO, wheat-free, gluten-free, and organic vegan products to its portfolio in North America.
It also offers the joint venture between ADM and Brazilian meat processor Marfrig, a range of vegan items for foodservice customers, including burgers and veggie crumbles.
Founder and president, Dror Balshine, believes their acquisition by PlantPlus Foods will help the company continue to deliver a positive impact on both human and planetary health.
“Our new partnership with Plant Plus Foods means Sol Cuisine will have the strategic resources to further grow our community of ‘Sol Mates’ and continue to innovate while expanding our culinary focused product offerings,” Balshine said in a statement.
“Those strategic resources include best-in-class ingredients, operational support, and research and development.”
Sol Cuisine marks the second acquisition for PlantPlus Foods, which recently purchased Lawrence, Kan.-based Dew Drink Eat Well, LLC, a maker of meat-free burger and sausage analogues sold under the Hilary’s brand.
The venture which sells branded, private label, and custom products across North and South America, plans to expand production and distribution of both brands as it builds out its infrastructure and distribution capabilities.
“We look forward to growing our presence in the North American market while nurturing our South American customer base and leading accounts,” said John Pinto, chief executive officer of PlantPlus Foods.
“As we leverage the passionate communities across the plant-base, flexitarian and meat industries, we intend to provide them with better-for-you ingredients when experiencing our products.”
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