US plant-based brands consolidator Livekindly Collective (LKC) has completed its first domestic deal, acquiring frozen products business Alpha Foods.
The deal, struck for an undisclosed sum, sees California-based Alpha become LKC’s sixth food brand acquisition since its founding in 2020 and increases its US distribution network. Alpha has a presence at 11,000 “retail doors”, including major retailers such as Kroger, Whole Foods and Safeway, and its products are also supplied to foodservice, the military, colleges and universities.
Alpha’s portfolio includes ready-to-eat frozen breakfast items, as well as plant-based burritos, nuggets and meatballs. The company is re-launching its product portfolio in a move that will see high-moisture extrusion (HME) technology integrated into the production process.
LKC CEO David Knopf said: “In the US, Alpha is one of the fastest-growing brands in the plant-based frozen food category. The strategic acquisition of Alpha’s assets will allow us to significantly increase our US presence and bring innovative, delicious products to consumers in the US under the Alpha brand. We are confident in the long-term prospect for this dynamic market.”
Cole Orobetz, CEO and co-founder of Alpha Foods, said: “We are thrilled to be joining the collective of strong plant-based brands with products in global markets, which will no doubt have a positive impact on our US business. This acquisition furthers Alpha’s mission to provide extraordinarily delicious products to the broadest possible audience.”
LKC has built its portfolio of brands – which includes Fry’s, Oumph!, LikeMeat, No Meat, and the Dutch Weed Burger – through acquisition. It has over 200,000 distribution points across more than 40 countries.
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It was set up by Roger Lienhard, the founder and chairman of Blue Horizon Ventures and its backers include Germany’s PHW Gruppe and South Africa’s RCL Foods.
The plant-based food industry has seen a number of failures this year, partly because sales have been below expectations, but LKC told Just Food last year it thought plant-based meat was potentially a $1.5tln “addressable market”.