Wicked Kitchen, a global plant-based food brand, along with its associated brands Good Catch and Current Foods, has been acquired by the Ahimsa Companies, becoming part of its plant-based industry consolidation effort.
Pete Speranza, CEO of Wicked Kitchen, stated, “We are aligned in our mission, and we believe that Wicked Kitchen is stronger today and better positioned to serve the health and environmentally conscious consumer who does not want to sacrifice on taste or convenience.”
Wicked Kitchen, founded by chefs Derek and Chad Sarno, offers a wide range of plant-based foods, including frozen meal solutions, desserts, ingredients, and snacks. Its products are available in over 20,000 retailers and online, with over 50 products in the US and more than 150 in the UK.
Industry consolidation
Industry consolidation has been cited as essential for the growth and success of the plant-based sector, especially given the crowded market and recent downturn in investment funding. Recent predictions have pointed to consolidation as a necessary step for the success and survival of the plant-based industry.
A report from UK & Ireland law firm Browne Jacobson says, “Companies with a strong financial position and private equity investors may view this as an opportune time to acquire emerging plant-based brands, especially those with innovative products or strong market niches.”
Further, Matthew Glover, Chief Mission Officer at The Vegan Food Group, told vegconomist, “It’s clear that many of the plant-based startups have struggled to hit the fast growth trajectories expected, and with the appetite for investing in this space having cooled, there’s going to be a lot more consolidation required.”
Future plans and expansion
Multiple additional brands and related businesses are expected to join Ahimsa Companies, aiming to leverage collective strengths and resources. As part of Ahimsa, Wicked Kitchen plans to expand to additional retailers, enhance foodservice offerings, invest further in innovation, and continue offering a wide variety of animal-free consumer packaged goods in the US and UK markets. Its products are currently available in major US retailers, including Target, Wal-Mart, and Kroger.
“We’ve said all along that consolidation will drive success for the plant-based industry”
Matt Tullman, Group CEO of Ahimsa Companies, noted, “We’ve said all along that consolidation will drive success for the plant-based industry. As Ahimsa Companies brings together more brands, it can leverage this strength to help stabilize and shape the new landscape for the plant-based industry.”
The Sarno brothers will remain stakeholders in Wicked Kitchen. Discussing his future plans on LinkedIn, Derek stated, “For the foreseeable future, my focus will be on creating […] long-form cooking videos aimed at empowering both industry chefs, product developers, and home cooks to master the art of creating exceptional plant-based cuisine.”
