UK-based vegan chocolate brand Doisy & Dam has been acquired for an undisclosed sum by Food Thoughts, a producer of organic cocoa and cacao products.
Doisy & Dam was founded in 2012 and offers a range of ethical and sustainable plant-based confectionery, including plant-based alternatives to products such as M&Ms and Maltesers. The chocolates are available at major national retailers such as Asda, Sainsbury’s, and Holland & Barrett, along with various independent stores.
Food Thoughts focuses mainly on fairly traded cocoa powder, along with chocolate chips and cacao nibs. The company is increasingly offering plant-based products such as chocolate chips made with oat milk, making the acquisition of Doisy & Dam a logical step.
Food Thoughts purchased Doisy & Dam from plant-based beverage and snack distributor Nurture Brands, which acquired it from administration just two years ago. The development comes just weeks after Nurture sold another of its brands, Indie Bay Snacks, saying it intends to focus on a smaller number of higher-growth brands.
“Exciting plant-based chocolate proposition”
Plant-based chocolate has become increasingly popular in recent years, with the global market expected to be worth $2 billion by 2032. This growth is demonstrated by the success of brands such as LoveRaw, which was named one of Europe’s fastest-growing companies by the FT 1000 earlier this year. Worldwide, mainstream chocolate brands such as Lindt, Galaxy, and Hershey are also tapping into growing demand by launching plant-based versions of their products.
“Doisy & Dam is synonymous with great tasting ethical plant-based chocolate, and is a brand with a loyal following across the UK and EU,” said Mark Gould, managing director at Food Thoughts. “Adding Doisy & Dam to our ethical cocoa powder brand, Food Thoughts, provides us with an exciting plant-based chocolate proposition across snacking and home baking. As a certified B-Corp brand that avoids using palm oil and commits 1% of its revenue to Borneo Orangutan Society, the brand also sits perfectly with our ethical values, and we will continue to make this a priority.”
