Above Food bolsters foodtech platform with Brotalia acquisition

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Melissa Bradshaw

4 July 2024

Mergers & Acquisitions

Above Food bolsters foodtech platform with Brotalia acquisition

Above Food, a Canadian specialist in regenerative ingredients, has announced its acquisition of European plant-based food and technology company Brotalia.

Brotalia, founded in 2017, is a subsidiary of Spain-based Grupo Empresarial Enhol. The company’s food technology group aims to revolutionise the production of ingredients and foods by producing and marketing healthy, tasty and sustainable food at scale.

A specialist in 3D bioprinting and dry fermentation technologies, Brotalia produces a range of plant-based meat alternatives under the commercial name Foody’s. Its fermentation process upcycles ingredients and their byproducts into high-value end products while enhancing nutrient density.

Above Food delivers nutritious food to businesses and consumers with a focus on regenerative agriculture, traceability and sustainability. Its products and brands are available in grocery stores across Canada, the US and Europe. Above’s chain of plant proteins is enabled by scaled operations and infrastructure in primary agriculture and processing.

Lionel Kambeitz, Above Food’s founder, CEO, president and executive chairman, commented: “Brotalia’s pioneering efforts in leveraging disruptive technologies to enhance the production of differentiated foods perfectly align with our quest to create a more sustainable and efficient food ecosystem globally”.

He added: “Moreover, this acquisition bolsters our food technology capabilities, acting as an incubator for shepherding new food tech solutions that support our broader business”.

Above Food entered into a definitive business combination agreement with special purpose acquisition company Bite in April 2023. The shareholders of Bite and Above Food have approved the closing of the combination and Above Food will now operate as a publicly trading company, with its current shares and warrants listed on the Nasdaq stock exchange as of this month (July 2024).