VFC Foods, a UK-based alternative meat company, has acquired Clive's Purely Plants, a manufacturer of plant-based pies, quiches, rolls, and nut roasts, for an undisclosed amount.

Clive's Purely Plants, launched in 1986, is a Devon-based bakery specializing in vegetarian and vegan pies. The company offers a range of innovative plant-based products and is available at major retailers and independent stores.

The acquisition will expand VFC Foods' portfolio and is expected to increase its annual sales by 30%. It includes the bakery's production facility, which will increase production volume and aid the company’s plans to penetrate the retail and food service sectors in the UK and Europe.

AnalystQuickTake: This marks VFC Foods' second acquisition of the year, following its acquisition of The Meatless Farm (TMF). TMF was on the brink of going into administration but got bailed out by VFC and recently returned to supermarket shelves in the UK, launching new products and a brand awareness campaign.