Plant-based food company Atlantic Natural Foods (ANF) has hired Deloitte to assist with securing an investment partner to help its expansion.
According to ANF founder James Douglas Hines, the increase of plant-based protein demand is creating a need to “drastically enhance” the company’s supply chain, factories, finance, marketing, execution, and human and financial capital.
Headquartered in Nashville, ANF makes brands such as Loma Linda, Tuno and Kaffree Roma. The firm also has a manufacturing facility in Bangkok, Thailand.
“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,” Hines said.
“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 last year, ANF has secured more than 18,000 stores worldwide and aims to reach revenue of $50 million within the next two years.
“ANF’s incredible growth is driven by consumer demand of sustainable products that taste great,” Hines added. “Although vegans love our products, we’re seeing this demand in the mainstream market, too, as consumers of all stripes are increasingly aware of how their food choices affect their health and environment.”
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.”
Last October, ANF introduced a line of plant-based, shelf-stable protein meal solutions under its Loma Linda brand, created in response to the growing demand for high-protein, vegan foods that are also non-GMO and gluten-free.
The firm then announced the launch of Tuno, a plant-based tuna alternative created in collaboration with seafood industry experts.
© FoodBev Media Ltd 2019
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