UK – VFC Foods, known for its vegan fried chicken, has acquired Clive’s Purely Plants, a fellow plant-based business based in the UK, along with a manufacturing facility in Dartmouth, Devon, England.
The deal encompasses Clive’s Purely Plants’ brand of plant-based pies, quiches, tarts, and sausage rolls.
Co-owned by Matthew Glover, founder of Veganuary, and Adam Lyons, VFC Foods did not disclose the financial terms of the transaction.
Investor Veg Capital, of which Glover is also a co-founder and managing director, acquired a majority interest in Clive’s Purely Plants (CPP) in 2021.
Meanwhile, Esther Pearson, the managing director of CPP, will remain a shareholder in the business post-transaction, with final due diligence to be completed in the coming days.
According to a spokesperson for North Yorkshire-based VFC Foods the majority holding has now transferred to the business from Veg Capital.
This acquisition follows VFC Foods’ purchase of the plant-based meat brand of another UK business, The Meatless Farm Co., in June 2023.
“The acquisition of Clive’s, following the successful addition of Meatless Farm, positions VFC Foods as a formidable player in the market,” Dave Sparrow, CEO of VFC Foods, stated.
“What excites us the most is the diverse range of products we can offer consumers, from enticing meat alternatives to wholesome and delicious vegetable-based options, making us one of the most diversified players in the category.”
Managing director Esther Pearson expressed enthusiasm about the partnership with VFC Foods, highlighting their commitment to maintaining business as usual with all existing customers and upholding high standards of customer service.
“We are thrilled to have found a like-minded partner in VFC Foods to support us through this period of accelerated growth. We are committed to maintaining business as usual with all existing customers and ensuring that we uphold our high standards of customer service,” he said.
While no production facilities were included in that transaction, Meatless Farm itself remained in administration after entering the legal process in June.
Clive Lowe founded CPP in 1986, and Veg Capital acquired a majority interest in the company in 2021. CPP’s product range includes pies, quiches, and nut roasts, with products sold in major retailers such as Asda and Waitrose, as well as online through Ocado and by food-delivery business Abel & Cole.
CPP is set to reveal another “big five” listing in December.
According to a spokesperson for VFC Foods, CPP has experienced a 47% increase in revenues over the past 12 months and will represent 30% of the total group’s annual revenue.
The Dartmouth facility will provide additional options for processing and manufacturing for both VFC Foods and Meatless Farm.
