©VBites
Plant-based food business VBites, owned by Heather Mills, has sold its 25.1% stake in the company to Intersnack owner Pfeifer & Langen.
The investment – which was completed by Pfeifer & Langen’s New Food division – signals the launch of a strategic partnership between the two companies. VBites produces plant-based alternatives in the meat, fish and dairy-free sectors, while Pfeifer & Langen is a German plant ingredients ‘farm to fork’ manufacturer.
The initial focus of the new partnership will be to accelerate the growth of VBites’ plant-based cheeses and fishless fish products. VBites’ meat-free segment will also be a focus due to demand in the market for its range of plant protein isolates, including faba, quinoa, chickpea, soy and algae.
Heather Mills, founder of VBites, said: “We are delighted to have found a partner that shares our values and ambition for the plant-based movement. Pfeifer & Langen specialise in the procurement and refinement of raw ingredients for their food businesses and understand the importance of controlling your own supply chain – especially with global ingredient shortages set to be a consistent challenge for the plant-based and food markets over the next 10-20 years.”
She added: “VBites’ output has doubled in the last 12 months and with that growth set to continue we are also very pleased to be working with a partner that specialises in large-scale food manufacturing”.
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