Atlantic Natural Foods (ANF) has become the latest in a long line of brands to be acquired by plant-based foods company Above Food. ANF is best known for TUNO, its vegan canned tuna alternative.
Atlantic Natural Foods Terminates Acquisition Agreement With Above Food
Atlantic Natural Foods (ANF), the manufacturer of shelf-stable plant-based brands Loma Linda®, neat™, and TUNO™, has withdrawn from an agreement that would have seen it acquired by vertically integrated plant-based food company Above Food. ANF had initially hoped to enter a public environment in partnership with Above Food, but now plans to transition back to private ownership. The decision has been prompted by changes in the business landscape, including the global impact of COVID-19, supply chain disruptions, and rising food inflation. Both parties have mutually agreed to the withdrawal, and ANF leadership will resume direct fiduciary oversight with a focus on addressing these challenges. However, the companies will maintain collaborative ties, with ANF retaining shares in Above Foods and the latter retaining interest in ANF. …