Finnish food maker Paulig Group is buying 51 percent of Gold&Green Foods, a food technology start-up behind so-called pulled oats, saying on Thursday it would expand the meat substitute internationally.
The plant-based product, which uses Nordic oats and broad beans as its main ingredients, was launched in Finnish stores in May and Gold&Green says it is struggling to meet growing consumer demand for it.
“We currently have annual sales of 2 million euros ($2.23 million), but the demand only in Finland is 20 times bigger,” Gold&Green co-founder and Chief Executive Maija Itkonen said.
Family-owned Paulig said it aims to increase production capacity and sell it internationally, starting in other Nordic countries.
It did not disclose the financial terms of the deal but said Gold&Green would continue as an independent unit after the acquisition.
($1 = 0.8975 euros)
By Tuomas Forsell
Source: Reuters
Upon FoodBev Media’s return from Vitafoods 2022 – which took place from 10-12 May in Geneva, Switzerland – the team reflects on the event’s aim to bring together international nutraceutical suppliers and experts from across the globe.
Following a strategic review last year, Mondelēz International is planning to sell its developed chewing gum business, which includes brands Trident and Dentyne. This is in addition to offloading its Halls cough drop brand, as the food giant focuses on generating 90% of revenue in its chocolates and biscuits businesses, including baked snacks.
Givaudan has unveiled NaNino+, a patent-pending combination of plant-based ingredients and natural flavorings that can replace nitrite in processed meat. Designed with natural ingredients, it provides a lasting multi-sensorial food experience with a good taste, color and freshness.
