Canadian regenerative ingredient company Above Food Corp. has announced its acquisition of Brotalia, S.L., a Spanish company specializing in innovative food technologies. Brotalia, operating under the commercial name Foody’s, was previously a subsidiary of Spain-based Grupo Empresarial Enhol, S.L.
“Brotalia’s pioneering efforts […] align with our quest to create a more sustainable and efficient food ecosystem globally”
Founded in 2017, Brotalia focuses on developing, producing, and marketing sustainable and nutritious food products. The company is notable for its advanced research in dry fermentation technologies, which enhance nutrient density by upcycling ingredients and by-products into high-value products.
The acquisition excludes Brotalia’s hydroponic herb production business, Foodys Agro, which remains under the ownership of Grupo Enhol and Agorreta.
Foody’s 3D printing technology
Foody’s offers a range of plant-based products, including burgers, meatballs, nuggets, fish-style milanesa, and foie gras. The company has also led the commercialization of 3D bioprinting technology to produce better-for-you products in Europe.
In partnership with Cocuus, another food tech company from Navarra, Spain, Foody’s has been industrializing and marketing 3D-printed plant-based foods. The collaboration notably began with 3D-printed bacon, which rolled out into Carrefour last autumn, retailing at around the same price as conventional bacon.
Lionel Kambeitz, Founder, President, CEO, and Executive Chairman of Above Food, commented, “Brotalia’s pioneering efforts in leveraging disruptive technologies to enhance the production of differentiated foods perfectly align with our quest to create a more sustainable and efficient food ecosystem globally.
Above Food’s IPO
The financial details of the acquisition were not disclosed. Food’s recent strategic moves include its plans to go public through a business partnership with Bite Acquisition Corp. (NYSE AMERICAN: BITE). The merger, which shareholders have approved, is expected to close in the first half of 2024, with the new entity to be listed on Nasdaq under the ticker symbols “ABVE” and “ABVE.W.”
Last year, Above Food also announced its intention to acquire Atlantic Natural Foods, which owns plant-based brands such as Loma Linda and Tuno, further expanding its portfolio in the plant-based food sector.
“This acquisition bolsters our food technology capabilities, acting as an incubator for shepherding new food tech solutions that support our broader business,” concluded Kambeitz.
