VFC Foods, a British plant-based meat startup, has acquired Meatless Farm and prevented the latter from going into administration. The financial terms of the deal were not disclosed.

Meatless Farms, founded in 2016, is a British plant-based meat producer. The company’s portfolio includes plant-based burgers, sausages, ground meat, hot dogs, and ready meals, among others. It is sold in the UK, the US, the Netherlands, and Singapore. As of June 2023, the company has raised USD 37.2 million in funding.

The Meatless Farms brand will be retained post-acquisition, while its products will be used to diversify VFC Foods’ plant-based chick*n range. Moreover, the acquisition will support VFC Foods’ growth strategy and mission to increase the distribution of vegan products and eliminate animals from the food supply chain.

AnalystQuickTake: Earlier this month, Meatless Farms entered administration after a series of financial troubles and laid off the majority of its staff. Despite revenue almost doubling, the company recorded a loss of GBP 22.9 million (~USD 29 million) for the year ended December 31, 2021. The acquisition will not overturn the redundancies and will operate within Meatless Farms’ current structure.