V2food, a major player in Australia’s plant-based meat industry, has made a significant move by acquiring vegan chicken producer Daring Foods. The acquisition, which was made for an undisclosed amount, is part of v2food’s strategy to expand into the competitive U.S. market. Alongside this acquisition, v2food also announced a partnership with Ajinomoto Co., a Japan-based ingredients giant. This partnership will allow v2food to further expand its reach into Africa and emerging markets in Asia.
Daring Foods will continue to operate under its own brand in the U.S., according to a statement released by v2food. This acquisition provides v2food with a platform to introduce new products under its own banner and strengthen its presence in the plant-based meat industry.
Despite the challenges faced by the plant-based meat segment in the U.S., with declining consumer interest and a loss of venture capital, v2food remains optimistic about its global expansion plans. The company aims to become a leader in the plant-based meat category and believes that the partnership with Daring Foods and Ajinomoto will help them achieve this goal.
While many companies in the plant-based meat industry have struggled in recent years, Daring Foods has managed to maintain its growth and become a top brand in the non-breaded plant-based chicken category. The company’s resilience and strong brand presence in the U.S. market make it an attractive acquisition for v2food.
The collaboration between v2food, Daring Foods, and Ajinomoto will also focus on developing new products, including a frozen meal range. V2food is committed to offering clean-label options that address consumer concerns around synthetic additives, such as methylcellulose, and use natural colors from algae.
As the plant-based market continues to evolve and consolidate, v2food, Daring Foods, and Ajinomoto are positioning themselves to be among the leading players in the industry. With a focus on innovation, product development, and global expansion, these companies are determined to make their mark in the growing plant-based protein market.
In a competitive industry where only a few major players are expected to survive, Daring CEO Jeffrey Gendelman expressed confidence in the company’s future. He believes that Daring Foods has earned the right to be a top global player and is ready to compete with the best in the industry.
