|Target||Meatless Holding B.V.|
|Advisory sell side||JB Law | Legal Advisory Corporate M&A
Rembrandt Fusies & Overnames | M&A Advisory
|Advisory buy side||Squarefield | Financial Advisory
Kemperink Maarschalkerweerd Wouters | Legal Advisory Corporate M&A
|Data Room provider||Virtual Vaults
The German food company BENEO, a subsidiary of Südzucker AG, has acquired the Dutch company Meatless B.V. BENEO sees the deal as an opportunity to further expand the product range and roll it out globally. Financial details of the deal were not disclosed yet. Meatless's products are inherently sustainable and the production process achieves a very low carbon footprint, further supporting BENEO's goal of using state-of-the-art production facilities to reduce overall carbon emissions.
Buyer BENEO is one of the leading functional ingredient manufacturers with many years of experience in the development and production of naturally derived ingredients for use in food, animal feed and pharmaceuticals. The company hopes to respond to the rapidly growing demand for these foods. In 2020, the market for these products grew by 20%. In the Netherlands, the meat substitute market is worth nearly €300 million per year.
Seller Meatless specialises in making ingredients for the meat and fish substitute market. The company has developed a unique process that produces neutral-tasting products that can be used in frozen or dried form for the creation of fish and meat alternatives.