US plant-based food business Atlantic Natural Foods (ANF) has hired financial advisory firm Deloitte to help it find an investment partner to aid its expansion.
The Nashville-based company produces shelf-stable seafood alternative products under the Loma Linda brand, including the plant-based tuna-type product Tuno.
Its founder, James Hines, said: “Our Loma Linda meal solutions launch in 2018 saw unprecedented growth as our products have rolled out in supermarkets and small grocery chains across the US. the United Kingdom, and Australia.
“We’re committed to creating, manufacturing, and distributing high-quality, sustainable plant-protein foods that are good for you and good for the planet. We’re seeking an investment partner who shares our vision and mission.”
In the past year ANF has secured more than 18,000 stores worldwide and suggests it is on track towards an annual revenue figure of US$50m within two years.
But Hines said, there is a need to “drastically enhance” ANF’s supply chain, factories, finance, marketing, execution, and human and financial capital.
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By GlobalDataANF has manufacturing locations in Nashville and Bangkok, Thailand.
Rory Dineen, managing director of Deloitte Corporate Finance, said: “We are pleased to work with ANF on this investment opportunity. The food industry is evolving and ANF’s plant-based food alternative products offer consumers affordable and sustainable protein options.”
