Goodmylk, the plant-based dairy company, has acquired nutrition brand PRO2FIT in one of the first M&As in India’s growing plant-based sector. PRO2FIT produces plant-based nutrition products such as vegan protein powder and retails across India.
Goodmylk, which raised $1 million in a seed round extension last year, has been at the vanguard of the plant-based movement in India, with the acquisition of PRO2FIT signifying maturity in the emerging Indian alt protein sector. Both brands saw synergies in their missions to make plant-based food and nutrition accessible to all.
Alt dairy producer Goodmylk, whose existing portfolio consists of nut- and oat-based milks, vegan mayonnaise, chocolate, vegan butter, and peanut curd, recently entered the cheese alternative market with a vegan cheddar product. India’s plant-based market continues to show signs of growth, with alt-protein investments in the greater APAC region rising 92% over 2021.
“Consumers today want more than functional products – they want to feel good about what they eat. It is important to balance claims of functionality with clean labels, price and taste. Nutrient-dense, clean label plant-based foods are the future, and we are excited to enable this with PRO2FIT on board,” stated Abhay Rangan, co-founder at Goodmylk.