Food Chain GmbH, a wholly-owned subsidiary of Social Chain AG, acquires 10% of PLANTY-OF-MEAT GmbH. The company has also secured the option to acquire a majority stake in PLANTY-OF-MEAT. Food Chain expects steady growth this year and predicts an increase from 75 million euros in 2020 to 110 million euros in 2021.
PLANTY-OF-MEAT was founded in Munich in 2019 with the aim of developing and producing natural and plant-based meat alternatives targeted at those who enjoy eating meat. It states that, through local development and regional production, its products offer “future-oriented plant-based solutions from a single source.”
Christoph Schöppl, Managing Director of PLANTY-OF-MEAT and one of the founders together with Johannes Biel, comments: “PLANTY-OF-MEAT is breaking innovative ground in the production of its products and is focusing on new target groups for meat alternatives.
“We are looking forward to the entrepreneurial cooperation with Social Chain in order to take creative paths in marketing and distribution as well. For the next stage of development of PLANTY-OF-MEAT, we are focusing on a communication and marketing strategy outside the mainstream. Social media and social commerce will further boost awareness and growth of PLANTY-OF-MEAT.”
Wanja S. Oberhof, CEO of The Social Chain AG: “PLANTY-OF-MEAT is a perfect addition to our fast-growing Food Chain GmbH. Using plants as a nutritional basis and substitute to eating meat reflects a clear consumer trend towards healthy and sustainable food. With Social Chain’s social media expertise, we can open up new, efficient marketing and sales opportunities for PLANTY-OF-MEAT. Food is playing an increasingly important role in social commerce. The segment is already an important social commerce vertical for Social Chain AG and remains one of the outstanding investment fields for us.”
