The Very Good Food Company (VERY) recently announced its acquisition of The Cultured Nut, an artisan vegan cheese producer. This deal positions VERY for further advancement in the plant-based sector.
“The acquisition of Cultured Nut allows VERY to efficiently enter into the dairy alternatives space,” commented Mitchell Scott, CEO. “This is a significant milestone in the realization of our long-term strategy of owning several brands under the banner of the Very Good Food Company in all major food categories providing consumers fun, innovative and healthier plant-based alternatives to everyday animal-based products.”
Cultured Nut has a current sales distribution in several online and grocery retailers including select Whole Foods stores. According to a release, it offers multiple innovative products such as block-style cheeses, cream cheese, and a plant-based butter. Several more products are currently in development.
VERY intends to rebrand Cultured Nut’s product line under a new brand called The Very Good Cheese Company. This launch is expected in the second quarter of 2021 as part of VERY’s c-commerce and wholesale distribution networks.
The company also has a goal to scale up Cultured Nut’s existing production facility to over 100,000 units per month in 2021 alone. These plans include further production in 2022. To ensure a successful business integration, the Founders of The Cultured Nut and certain other key employees have entered into employment agreements with VERY.
Exciting moves being made in the plant-based sector! Deli Market News will make sure you’re up to speed, so stay tuned.
