Smart Foods Acquires The Aussie Plant-Based Co From Liquidation
Last week, it was announced that The Aussie Plant-Based Co had entered liquidation due to cash flow difficulties. Today it is revealed that the company has now been acquired by Gold Coast-based food manufacturer Smart Foods. Food & Drink Business reported that Smart Foods has agreed to purchase the company’s plant and equipment, stock, intellectual property, and the vEEF and Love Buds brands. Some assets will be sold, allowing for the retention of around half the company’s workforce. Fënn Foods, previously the parent company of vEEF, will cease to operate as an entity after the acquisition. Following the agreement, operations have already restarted at The Aussie Plant-Based Co’s facility on the Sunshine Coast. Smart Foods reportedly hopes to expand distribution across Australia, securing listings at …