Company News

vEEF Merges With LOVE BUDS to Form The Aussie Plant Based Co

Two Australian brands — Fenn Foods’ vEEF and All G Foods’ LOVE BUDS — have announced that they are merging to form a new company called The Aussie Plant Based Co.

vEEF and LOVE BUDS are both leaders in the plant-based meat category, in retail and food service respectively. The strategic merger will grant The Aussie Plant Based Co access to 6,000 distribution points across Australia, along with a manufacturing hub on the Sunshine Coast.

Demand for plant-based foods is growing rapidly in Australia; recent research found that 19% of Australians are eating a flexitarian diet, while 6% are vegetarian or vegan. The Aussie Plant Based Co hopes to cater to this demand and eventually expand into Asia and the Middle East.

© vEEF

“Leading the Australian industry”

Following the merger, All G Foods’ biotech arm will remain separate, continuing to focus on its mission of making cultivated milk cheaper than conventional dairy. The company secured $25 million from Agronomics in August of last year to accelerate this process, following two previous multi-million-dollar raises in September 2021 and February 2022.

“The Aussie Plant Based Co aspires to lead the Australian industry with the broadest route to market, an enticing range of taste-first products, and our exceptional team. This strategic move will allow All G Foods to focus solely on being Australia’s leading biotech specialising in precision fermentation,” said Jan Pacas, founder of All G Foods and chairman of The Aussie Plant Based Co.

The LOVE BUDS and vEEF brands will both be retained following the merger. LOVE BUDS’ range consists of plant-based nuggets, sausages, burgers, and more, while vEEF offers products such as plant-based bacon bits, pulled beef, and roast seitan. In April, Fenn Foods became Australia’s first carbon-neutral plant-based food company, a year after it raised $3 million in an oversubscribed private capital raise.

“This collaboration is a testament to our shared commitment to creating a sustainable, healthier, and tastier future for Australians. By combining our strengths, we can accelerate the adoption of plant-based alternatives and contribute to a greener planet and more ethical sources of protein,” said Alejandro Cancino, founder of vEEF and CEO of The Aussie Plant Based Co.

ClosePlease login
See all bookmarks