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Vegan Brand bought by Meat Company for $120M

Vegan Brand bought by Meat Company for $120M

Canada's Maple Leaf Foods makes its second acquisition of a meatless brand, Field Roast.

According to VegNews, Maple Leaf Foods, a Canadian meat company has announced the acquisition of popular vegan brand Field Roast

'Field Roast—which reported sales of $38 million—is known for its grain-based meats and Chao dairy-free cheese slices.' Says VegNews.

“The acquisition of Field Roast complements and expands our portfolio in the fast-growing North American market for alternative proteins," Maple Leaf CEO Michael McCain said. "It also aligns with our vision to be a leader in sustainable protein and create shared value through making a positive social impact. Field Roast has built brand leadership through focusing on quality, craftsmanship, and taste, and its acquisition will allow Maple Leaf to fuel growth in the category through investment, brand building and innovation.”

VegNews added "This is the second vegan acquisition for the meat giant as it acquired plant-based meat brand Lightlife for $140 million in February. An unnamed source close to the vegan brand reports that Field Roast CEO David Lee will step down once the acquisition is complete."

What are your thoughts on this? Would you continue supporting vegan products owned by a meat company? 

You can find a large selection of Vegan Meats owned by independent vegan businesses  hereVegan Meats

 

 

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