Mexico-based food group Sigma Alimentos has acquired a minority stake in Chile-headquartered, plant-based start-up The Live Green Co.(TLGC) for an undisclosed sum.
Sigma, which specialises in chilled and frozen food across a number of categories including meat and dairy, described TLGC as “one of the most exciting plant-based start-ups in Latin America”.
The company said TLGC “blends ancestral wisdom of plant nutrition with biotech and machine learning to develop plant-based foods of the future”.
TLGC took part in Sigma’s accelerator programme Tastech, which is aimed at start-ups and scale-ups that explore “machine learning solutions, the development of new foods and ingredients, and the generation of new business models in the production, distribution and marketing of food products”.
Its product range includes burger and pancake mixes and ice cream.
Daniel Alanis, chief growth officer at Sigma, said: “We are pleased to join forces with TLGC to drive the development of plant-based and clean-label products. TLGC is one of the most exciting plant-based start-ups in Latin America.”
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Sigma produces, markets, and distributes packaged meats, cheese, yogurt and other refrigerated and frozen foods. It operates 70 plants and 210 distribution centres in 18 countries across its four key regions: Mexico, Europe, the US and Latin America. In 2020, it reported sales of US$6.3bn.