The latest acquisition is Vegan Food Group’s first since it was rebranded as a new development out of its initial company, VFC Foods
Vegan Food Group has agreed to acquire Tofutown, a German tofu manufacturer with €60 million in revenue.
The latest acquisition is Vegan Food Group’s first since it was rebranded as a new development out of its initial company, VFC Foods, founded in 2020 by Veganuary co-founder Matthew Glover and chef Adam Lyons.
Vegan Food Group’s portfolio, which also includes the VFC, Meatless Farm and Clive’s Purely Plants brands, already has 80 SKUs in the UK and EU across 21,000 distribution points.
In a statement shared on LinkedIn, Vegan Food Group’s chief mission officer Glover said that the combined entity will be positioned for profitability in 2024 with a “clear line of sight” for scaling group revenues beyond €100 million following the Tofutown deal.
Tofutown was established over 40 years ago and is a supplier of 100 per cent natural organic tofu, spreads and meat alternatives in the EU, predominantly in Germany where the company is based.
Headquartered in Wiesbaum (North Rhine-Westphalia), it supplies major retailers such as Aldi, Lidl, DM and Edeka under the Tofutown brand.
Its two manufacturing sites, spanning 55,000 square metres in total, produce a wide range of new plant-based products, with its Lüneburg (Lower Saxony) site becoming one of Europe’s largest plant-based manufacturing facilities.
