Meatless, a Dutch inventor in plant-based texturizing solutions for meat and fish substitutes, has been purchased by BENEO, a functional ingredient provider.
With the purchase of Meatless, a Dutch producer of plant-based texturizing ingredients, BENEO has continued its expansion in the plant-based area.
The purchase gives BENEO access to Meatless’ “unique” know-how and ingredient portfolio for an unknown price. It expands BENEO’s ingredient portfolio and allows the firm to provide a ‘versatile’ variety of plant-based texturizers for meat and fish substitutes to its clients.
“Meatless has a one-of-a-kind technology and product line. Andreas Herber, a member of BENEO’s Executive Board, stated, “This purchase will undoubtedly provide additional capabilities.”
“Meatless dishes are frequently produced from entire ingredients and are little processed. Rice, faba bean, wheat, quinoa, pea, and other raw materials will be added to BENEO’s portfolio, providing new and innovative ways to mix the ingredients with BENEO’s products.”
Introducing new products to the market
The agreement comes as the demand for meat and fish alternatives grows, with forecasts projecting a 10% increase in CARG over the next five years. “In this ever-growing trend for plant-based nutrition, products that may efficiently substitute meat, fish, or dairy are in great demand,” Herber explained. BENEO sees ‘excellent opportunities’ for the new range of products in Europe, which will be the initial target market, with ambitions to grow internationally.
The company thinks that by merging the Meatless product line with its own functional ingredient and sourcing knowledge, it would be able to accelerate growth and introduce “interesting new combinations” of ingredients. “We see highly significant market potential along with BENEO’s know-how in functional additives and access to raw materials, since it will allow us to extend our present product line even further,” Herber said.
We were assured that the inclusion of Meatless’ R&D expertise and ingredient line-up will ‘definitely’ boost BENEO’s innovation pipeline. “The purchase adds to BENEO’s portfolio, giving our clients access to a larger and more varied toolkit for texturizing meat and fish substitutes,” says the company. “BENEO proves that it is well positioned to become a key leader in the sector of plant-based texturizing solutions for meat and fish substitutes” with this purchase, according to Herber. “With the expanding market need for plant-based solutions, the business has considerable development potential, providing huge opportunity for both BENEO and its clients.”
BENEO’s footprint in the plant-based ingredient industry has been growing. Last month, the company announced intentions to invest €50 million in a new plant to produce protein concentrate, starch-rich flour, and husks from faba beans, a crop with “convincing sustainable credentials,” according to the company.
The acquisition of Meatless, according to Herber, is part of the same strategy. “Following the announcement of our new faba bean processing factory, the acquisition of Meatless is the natural next step in BENEO’s commitment to growing its company with plant-based alternatives,” he added. Meatless’ goods are ‘sustainable by design,’ according to the ingredient executive, and are in line with BENEO’s attempts to decrease its carbon impact.
“Meatless’ goods are designed to be sustainable, with production procedures that have a very low carbon footprint, further supporting BENEO’s goal of using cutting-edge production facilities to minimise overall CO2 emissions,” he informed this magazine. Following the acquisition, Meatless’ present management will remain in place. Meatless CEO Jos Hugense described the purchase as the ‘next step’ for the company.
“We’re excited to see Meatless take the next stage in its business development with BENEO.” Meatless will be able to fulfil expanding demand and expedite growth into new regions with the help of BENEO, a powerful and experienced worldwide player in functional ingredients.” “Meatless is a successful B2B supplier to the fast-growing vegetarian and vegan industry, creating a comprehensive range of textured goods utilised by major food processors,”
Herber continued, “while BENEO is a strong and experienced global leader in functional ingredients.” We are certain that the new arrangement will provide the foundation for addressing rising demand and accelerating the company’s growth into new areas.”