Plant-based food collective The Livekindly Co. has acquired meat alternative brand Oumph from Sweden-headquartered Food for Progress.
Founded in 2014, Oumph produces and markets a wide range of plant-based meat alternative products, which are principally made from soy. Oumph products are currently available across the Nordic countries, the UK and the Netherlands.
According to a statement from The Livekindly Co., Oumph registered sales growth of 40% in the first quarter of 2020, due to the growing appetite for plant-based meat alternative products from consumers. Indeed, figures provided by the company claim that the plant-based meat market will be worth $27.9 billion by 2025, with a predicted compound annual growth rate of 15% between 2019 and 2025.
No financial details were disclosed by either company.
The Livekindly Co. was formed earlier this year following a $200 million funding round. The collective was founded by Roger Lienhard, an early investor in Beyond Meat and Impossible Foods, and the organisation encompasses the operations of The Fry Family Food Co., LikeMeat and Livekindly Media.
Commenting on the acquisition, Kees Kruythoff, CEO and chairman of the Livekindly Co., said: “The Livekindly Co. is leading a movement to build a more sustainable future through our portfolio of brands—who are all creating delicious healthy plant-based food—and our ecosystem of mission-aligned partners.
“Bringing Oumph! into the Livekindly Co. family was a natural next step for us. Their commitment to plant-based food quality and protecting the planet mirrors our own as we accelerate our mission to make plant-based eating the new normal.”
Anders Wallerman, co-founder of Oumph!, added: “Since co-founding Oumph! five years ago, it’s been an amazing journey to date and I’m incredibly proud of the work our team has done in creating exceptionally tasty plant-based food.
“Our mission from day one has been to get more people eating plant-based food, which is a healthier, more sustainable way forward for the environment. I look forward to working with the Livekindly Co. to introduce new, and existing products to more people around the world.”
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