SYDNEY, October 17th, 2023

In a landmark move that will reshape the plant-based meat landscape in Australia, two Australian plant-based brands have announced their merger under a new entity, The Aussie Plant Based Co. The new business aims to capitalise on steadily increasing demand within the plant-based meat category. An increasing number of Australians are choosing to consume less meat due to the enhanced taste of plant-based alternatives and a growing awareness of its positive effects on the environment.

THE AUSSIE PLANT BASED CO FOCUSES ON RETAIL AND FOODSERVICE CHANNELS
The Aussie Plant Based Co. is the result of a merger between All G Foods’ plant-based division and Fenn Foods. Their corresponding brands, vEEF and LOVE BUDS, are leaders in the plant-based meat category within the retail and food service channels, respectively.

The strategic merger will establish an extensive distribution network, encompassing an impressive 6,000 distribution points across the country, along with a well-established manufacturing hub situated on the Sunshine Coast. This will position The Aussie Plant Based Co. to effectively cater to the diverse needs of customers and consumers throughout Australia, with ambitions to expand into the Asian and Middle Eastern markets.

MARKET OPPORTUNITY
The global plant-based meat market size was valued at US$4.4 billion in 2022 and is expected to grow at a compound annual growth rate of 25 per cent from 2023 to 2030.1 Consumer expenditure in the plant-based meat sector in Australia is forecast to hit US$1.5 billion by 2030.2

PLANT-BASED MEAT ALTERNATIVES IN AUSTRALIA
Australians are moving towards plant-based diets as they become more aware of the health and environmental advantages of these choices. Consumer studies have unveiled a striking 75 per cent upswing in the preference for plant-derived protein in the APAC region, outpacing the global average. The research also found 73 per cent of Australian consumers intend to curtail their meat consumption, while 55 per cent are ready to embrace a higher consumption of plant-based cuisine.3 This shift in consumer behaviour underscores the evolving preference, improving taste and burgeoning demand for plant-based offerings.

Jan Pacas founder of All G Foods and Chairman of the recently established entity The Aussie Plant Based Co said, “the Aussie Plant Based Co aspires to lead the Australian industry with the broadest route to market, an enticing range of taste-first products, and our exceptional team. This strategic move will allow All G Foods to focus solely on being Australia’s leading biotech specialising in precision fermentation”.

Alejandro Cancino founder of vEEF and CEO of The Aussie Plant Based Co, expressed his enthusiasm for the merger, saying, “This collaboration is a testament to our shared commitment to creating a sustainable, healthier and tastier future for Australians. By combining our strengths, we can accelerate the adoption of plant-based alternatives and contribute to a greener planet and more ethical sources of protein.”

A PLANT-POWERED TOMORROW
With demand for plant-based products continuing to increase, the union of vEEF and LOVE BUDS under the umbrella of The Aussie Plant Based Co signifies a watershed moment in the Australian plant-based movement. This strategic merger seeks to establish new benchmarks in the industry by introducing a wide range of plant-based substitutes that have not been offered in the market to date that not only delight the palate but also contribute to the planet’s well-being.

NEWLY FORMED BOARD OF DIRECTORS
The Aussie Plant Based Co has also announced a new era board of directors, which includes industry expert Rob Lederer, who brings invaluable expertise from within the meat industry, notably at Primo, a company acquired by JBS for A$1.45 billion. The board also welcomes Bryan Zekulich, a partner at the investment firm Bombora.

At The Aussie Plant Based Co, we rise with purpose, guided by a steadfast commitment to creating a world that thrives on compassion, sustainability, and positive change. We have a small but strong portfolio of brands, including vEEF and LOVE BUDS, with over 6,000 distribution points nationwide and a state-of-the-art manufacturing hub on the Sunshine Coast, allowing the company to meet the diverse needs of customers and consumers across the country.

Since its establishment in 2018, vEEF® has been captivating both plant-based enthusiasts and meat lovers with its delectable and inventive meat alternatives. These products, created by award-winning chef and founder of vEEF® Alejandro Cancino, are sure to convert even the most sceptic meat lovers. The vEEF® team is dedicated to producing mouthwatering, planet-friendly creations, inviting you to be part of a culture that’s sustainable and delicious.

LOVE BUDS is proudly crafted in Australia and graces the menus of venues nationwide, including Betty Burgers, The Sporting Globe, Australia Venue Co (such as Brew Dog, Cargo Bar, Bungalow 8), TGIs and Patty Smiths to name a few.

BUDS is on a mission to delight meat enthusiasts with a groundbreaking plant-based offering that will leave them exclaiming, ‘I can’t believe it’s not meat!’ Our unwavering dedication is focused on delivering delectable alternatives to beloved meat-based classics like burgers, sausages, nuggets, and arancini to health-conscious Australians.