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Investment firm Comitis Capital has acquired UK-based tofu specialist brand The Tofoo Co for an undisclosed sum.
The Tofoo Co is well-known in the UK for its assortment of plant-based products designed to provide sustainable and high-quality alternatives to meat. The brand has over 60% of the country’s market share in tofu, and offers additional meat alternative products beyond its core tofu range, such as tempeh and seitan.
Headquartered in Yorkshire, The Tofoo Co was acquired in 2016 by David Knibbs and Lydia Smith. In a statement, Comitis Capital said that Knibbs and Smith will ‘remain invested’ in the business and continue to steer its growth in the UK and international markets.
Knibbs said: “We chose Comitis as our partner to enter a new era of rapid expansion. Their deep understanding of our business model and entrepreneurial thinking has left us convinced that they are the right choice to bring The Tofoo Co to the next level.”
Felix Jauch, investment associate at Comitis, commented on the acquisition: “Together, we share a unified vision of propelling The Tofoo Co into a leading position in the international plant-based meat alternatives market. With our investment, expertise, and extensive network, we are committed to fueling the company's dynamic expansion plan.”
Comitis was advised by MCF Corporate Finance (buyside financial advisor), Caden Strategy (commercial), Eight Advisory (financial, tax and operations) and Orrick, Herrington & Sutcliffe (legal).
Top image: © The Tofoo Co
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