Dave Sparrow, the CEO of plant-based food business The Vegan Food Group in the UK, has stepped down.
Sparrow took on the role at Vegan Food Group (VFG) in January 2024, according to his LinkedIn page, switching from the CEO position at VFC Foods, the business’ forerunner before a change in corporate identity.
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Veganuary founder Matthew Glover set up VFC Foods in 2020 with his co-founder Adam Lyons. However, filings with Companies House in London show Lyons has recently resigned, joining Sparrow and a number of other executives.
While VFG has not responded to Just Food’s request to confirm the departure of Sparrow, the ex-CEO acknowledged in a brief statement he had left the business.
“I’ve been with the organisation pretty much from inception and proud of what we have achieved, although it was time for a new challenge and some time to recharge,” Sparrow responded to Just Food’s request for comment.
“I will of course be supporting and watching on fondly of where the group goes next, while focusing on my next CEO role.”
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By GlobalDataA filing with Companies House made on 16 September, provided a date of 12 September for Sparrow’s resignation.
Sparrow clarified that Lyons “stood down some time ago”, with Companies House putting his resignation date as a director at April 2024.
Meanwhile, Eden Phillip and Daniel Hardesty, both listed as secretary on the UK registrar of companies, resigned on 20 August and 10 January, respectively.
Under Sparrow’s leadership, VFG completed a number of acquisitions in the plant-based meat category when the business was still trading as VFC Foods.
The Meatless Farm Co. in the UK was first when VFC bought the brands of the company when it went into administration. The deal was sealed in mid-2023.
At the time, the North Yorkshire-based company said the transaction for the brand and inventories was “worth £12m in sales”, or $16.2m today (23 September).
Meatless Farm, set up in 2016 by Danish national Morten Toft Bech in the northern English city of Leeds, booked a net loss of £23.5m for the year to 31 December 2021. The company had been supplying the likes of Tesco, Sainsbury, Asda and Morrisons.
On the heels of Meatless Farm, what was to become VFG in October 2023 snapped up Clive’s Purely Plants along with a factory in Dartmouth in the county of Devon.
Clive’s Purely Plants manufactured a range of vegan pies, quiches, tarts and sausage rolls.
Investor Veg Capital, of which Glover is also a co-founder and managing director, had acquired a majority interest in Clive’s Purely Plants in 2021.
Under its new designation, VFG then acquired Germany’s Tofutown in 2024.
When that deal was struck in February last year, VFG said Tofutown was generating revenue of €60m ($70.7m today). The UK business added that the deal “positions the combined entity for profitability in 2024, with a clear line of sight for scaling group revenues beyond €100m”.
Tofutown, based in Wiesbaum in western Germany, manufactured products including tofu, spreads and frozen foods supplied to German retailers such as Aldi, Lidl and Edeka.
