Grano Alimentos Brasil has diversified its frozen vegetable offering into plant-based foods with the purchase of Mr. Veggy.
Based in the Rio Grande do Sul region of Brazil, Grano said the deal “reinforces the company’s positioning of providing more practical, healthy and sustainable food alternatives”.
Founded in 2004, Mr. Veggy makes meat-free burgers, sausage, meatballs, appetisers and Middle Eastern kibbeh, and also products such as falafel. Founder Mariana Falcão said the business emerged “from the desire to combine practical, natural and healthy alternatives to consumers looking to reduce the consumption of meat-based foods”.
Grano supplies frozen vegetables to the retail and out-of-home channels from its site in Serafina Corrêa, and also serves private-label clients. Set up 22 years ago, the business claims to command a 40% share of the Brazilian market, with fresh vegetables sourced from around 250 local farmers.
The business is majority-owned by Arlon Latin America, a buy-out fund under the umbrella of New York-based Arlon Group, which comes under the auspices of agri-food investor the Continental Grain Company. Arlon took a “significant” share in Grano in 2015.
Grano did not reveal the purchase price of Mr. Veggy in s statement.
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CEO Fernando Giansante said: ““We want to associate ourselves with the new healthy eating platforms, expanding the offer of products with focus on quality and price for foodservice and B2C, using our relevant leadership in the sector to further drive the evolution of Mr. Veggy. Grano seeks to maintain its leadership in the production and sale of frozen vegetables.”