The news: v2food, Australia’s leading plant-based meat company, has announced a strategic partnership with Japanese food company Ajinomoto Co, Inc and acquired US-based Daring Foods. Daring will continue to operate under its own brand while providing v2food with a platform to launch its products in the American market.
The numbers: While specific financial details were not disclosed, the partnership combines v2food’s position as Australia’s number one plant-based meat company with Daring Foods’ position as the leading unbreaded plant chicken brand in the United States. The collaboration targets emerging markets in Africa and Asia, where significant population growth is expected over the next 25 years.
The context: The strategic move integrates Daring’s retail presence and consumer loyalty in the US market with v2food’s food technology and manufacturing networks. The partnership with Ajinomoto brings more than 100 years of food science expertise and global distribution capabilities. The collaboration includes development of a new frozen meal range and focuses on clean-label innovation, including methylcellulose-free formulations and natural colour-changing technology using algae.
What they said: “Through the acquisition of Daring, we are excited to be able to introduce our world-class product range into the USA market,” said Tim York, chief executive officer of v2food.
“We’re excited about this next chapter and aligned culturally. With v2food’s technology platform and Ajinomoto Co’s expertise supporting us, we’re in the best position yet to deliver on our consumer promise at both pace and scale,” said Jeffrey Gendelman, chief executive officer of Daring Foods.
The source: v2food press release
