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The news comes just over a month after UK-based Plant & Bean – which manufactured meat-free products for Quorn, Princes, and Wicked Kitchen, amongst others – filed for administration.
The company experienced significant inflation across its cost bases, notably in food and energy prices. Plant & Bean was also suffering from ‘several’ operational issues, which resulted in periodic interruptions to production.
James Clark and Howard Smith from Interpath Advisory were appointed join administrators of the contract manufacturer. “Business across the food and drink sector, and especially those in highly competitive sub-sectors such as alternative protein, are facing immense pressures at the moment, with rising costs impacting profitability,” commented Clark at the time.
Interpath has since been ‘exploring the possibility’ of a sale of the business. This week, the administrator announced it has secured the sale of Plant & Bean’s manufacturing site and associated equipment to Vegan Solo Consulting Limited and Duo Renovations, both headed up by vegan activist Heather Mills.
Plant & Bean factory to remain ‘non-meat’
The 125,000 sq ft factory in Boston, Lincolnshire, was opened in 2020. At the time, it was considered Europe’s largest plant-based meat production facility, with an initial production capacity of 55,000 tonnes.
Now, the facility will join Heather Mills’ existing stable, which also includes meat-free business Vegan Solo (previous business names include VBites and RaspberryFields). The self-proclaimed ‘pioneer of plant-based foods’ was created by Mills in 1993.
Following the sale, it is understood renovations to upgrade the production capabilities will be undertaken. Mills said she is determined to ensure that any future manufacturing that takes place at the site will be plant-based.
“I am delighted to acquire the P&B facilities and to keep it as a non-meat factory. I am also pleased to try and help the founder of P&B who has worked in a similar vein to myself for many decades to drive positive change for the environment, the animals and for the health of the global population.”
The announcement follows another recent administration takeover: last month, vegan meat company Meatless Farm was sold by administrators to Vegan Fried Chick*n (VFC) Foods. The Meatless Farm brand will be retained.
Healthy consolidation? Or a lucky-ish break?
Two recent falls into administration, followed by two acquisitions (one a business, the other a factory) does beg the question: could new ownership be perceived a sign of health consolidation? Or a couple of lucky-ish breaks amid a challenging environment?
According to director of consultancy New Nutrition Business Julian Mellentin, who predicts many meat substitute brands will go under in the coming years, ‘healthy consolidation’ cannot exist in a category where products ‘fall so far short of consumer expectations’.
Indeed, with the exception of mycoprotein major Quorn, the New Nutrition Business director believes meat substitute brands fail to meet shoppers’ expectations on both taste and texture.
“Discounting is deep and almost a category standard,” he told FoodNavigator, citing upmarket supermarkets where customer demographics ‘should be ideal for plant-based meats’. “And yet, 25%-off discounts are the everyday reality as they try to shift slow-turning products.
“There’s years of product improvement work to be done before the word ‘healthy’ could be used anywhere near the meat substitute business.”
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