Plant-based meat alternatives company Tindle Foods is overhauling its business model, moving away from branded products to concentrate solely on private-label supply.
As part of this shift, the company will focus on European markets and sell its US operations.
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In a statement, Tindle said it will channel its efforts into supplying unbranded plant-based proteins to “large” food manufacturers, supermarket chains and restaurant groups.
Outlining the change, Tindle said the strategy would enable it to “significantly reduce” expenditure on marketing and distribution.
The company plans to reinvest those savings into product development and operational efficiency.
Timo Recker, CEO and founder of Tindle Foods, said: “This strategic pivot follows a clear logic. The plant-based category has become increasingly price-driven, and we’re seeing that private label products are capturing a growing share.
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By GlobalData“We are well positioned to lead this shift by producing best-in-class, innovative products, while also making the necessary adjustments to maintain value and accessibility for our customers.”
Recker stepped in as CEO again in December 2023 after fellow co-founder Andre Menezes announced he was stepping down from the role.
Recker, the Singapore-based company’s executive chairman, had been CEO from its inception in July 2020 to May 2021, when Menezes, who had been COO, became chief executive.
Tindle has built its portfolio of plant-based products around “simple, non-GMO” ingredients, adopting a clean-label strategy intended to “lower” regulatory processes and support consumer adoption.
Its range includes Tindle boneless wings, nuggets, and tenders, as well as Tindle’s stuffed chicken.
The company explained that retailers and foodservice operators are increasingly searching for “ready-to-market, sustainable food solutions” without incurring the costs associated with their own research, development and production, as shoppers look for more affordable options while still expecting “innovation, convenience, and great taste”.
Although Tindle had previously targeted the US as a key growth area, the leadership team now regards Europe as holding stronger prospects, citing continued growth in demand for plant-based alternatives.
Recker said: “We are seeing greater growth potential in Europe, where consumer demand for plant-based innovations continues to rise – particularly among the younger generations, who have already fully adopted plant-based foods as part of their everyday lives and routines.”
Earlier this year, in April, Tindle reported its largest US retail rollout to date, entering more than 500 stores in the Kroger Family of Companies, among them Fred Meyer, Ralphs and Smith’s.
That followed the November 2023 retail introduction of Tindle Chicken in the US, which saw the brand placed in select Giant Eagle stores, online via FreshDirect, and in several independent retailers on the West Coast, including Berkeley Bowl and Besties Vegan Paradise.
