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Canada’s Above Food Corp. has made an acquisition in the plant-based area with the acquisition of Spain’s Brotalia.
Better known as Foody’s, Brotalia was established in 2017 and offers plant-based options for chicken, seafood, burgers, and meatballs.
Above Food, based in Regina, Sask. , did not disclose the value it paid for Brotalia, which it acquired from Spain’s Enhol Business Group, which focuses primarily on renewables.
Above Food, which operates as a plant-based food ingredients company but also offers meat, dairy, and baby food products through its subsidiary Above Food Brands, described Brotalia as “a leader in complex studies on dry fermentation technologies. “
Brotalia uses “3D bioprinting technology” in the manufacture of its products.
Lionel Kambeitz, founder, CEO and executive chairman of Above Food, said in a statement: “Brotalia’s pioneering efforts to leverage disruptive technologies for differentiated food production align perfectly with our quest to create a more sustainable and effective food ecosystem. on a global scale.
“In addition, this acquisition strengthens our food generation capabilities, acting as an incubator to advise on new food generation responses that our broader business will have. “
Just Food asked Brotalia for comment on the transaction provided in Above Food’s statement.
Above Food, which is set for an initial public offering through a special purpose acquisition company (SPAC), has already grown through mergers and acquisitions.
Last year, the company completed the acquisition of the select seafood company and owner of the Tuno brand, Natural Atlantic Foods, after making an initial investment in 2021.
That same year, Above Food acquires two in the oats and plant-based dairy sectors with Only Oats and Culcherd. The following year, it bought Northern Quinoa Production, or NorQuin.
Above Food Corp. ‘s brands include Eat Up, which offers whole grains, meatballs and ground beef, pizza dough balls, oatmeal cheeses and plant-based baby food. Culcherd produces dairy-free cheese and butter, and Only Oats focuses on beverages. .
Above Food Corp. se is preparing to list on Nasdaq this year following a business combination with SPAC Bite Acquisition Corp. in April 2023. The deal was approved by any of the shareholder teams but has not yet been approved.
Eat Beyond Global Holdings, an equity investor in the plant-based category in Vancouver, invested an undisclosed amount of equity in Above Food in 2021. At the time, Patrick Morris, CEO of Eat Beyond, called Above Food an “established high quality. “Corporate. ” -a vertically incorporated expansion company that focuses on its proprietary plant-based ingredients, from seed to fork and plant-based proteins. “
“Canada’s Above Food Acquires Brotalia Plant-Based Products Company in Spain” originally created and published through Just Food, a logo owned by GlobalData.
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