BENEO Acquires Meatless B.V. to Further Expand its Portfolio of Plant-based Solutions

PARSIPPANY, NJ / ACCESSWIRE / May 19, 2022 / BENEO, one of the leading manufacturers of functional ingredients, has today announced the acquisition of Dutch company, Meatless B.V., ensuring that BENEO becomes a major player in the field of plant-based texturizing solutions for meat and fish alternatives.

The move comes amid a huge rise in demand for plant-based products, with figures showing that the market for fish and meat alternatives is expected to grow by more than 10% CAGR over the next five yearsⁱ. The acquisition of Meatless B.V. allows BENEO to broaden its portfolio and offer customers a versatile selection of plant-based solutions that serve as texturizers for meat and fish alternatives. BENEO sees great prospects for the new range of solutions in Europe as a focus market in the first instance, with plans to further expand globally.

Commenting on the announcement, Andreas Herber, Member of the Executive Board at BENEO states, "Following the recently announced investment into our new faba bean processing plant, the acquisition of Meatless B.V. is the next logical step to reaffirm BENEO's commitment to strengthening its business with solutions for plant-based alternatives."

Meatless B.V., founded in 2005 and located in Goes, The Netherlands, is a supplier of textured plant-based ingredients with a unique portfolio of solutions derived from different raw materials (i.e., rice, faba beans, wheat, pea, lupin, and quinoa). This range fully complements BENEO's ingredients portfolio and allows for exciting new combinations. As a result, BENEO's customers will benefit from a much broader variety and greater flexibility that supports the development of meat and fish alternatives.

Meatless' products are sustainable by design, with the production processes achieving a very low carbon footprint, further supporting BENEO's aim to use state-of-the-art production facilities to reduce total CO₂ emissions.

Andreas Herber, continues, "BENEO and Meatless are a natural fit. BENEO's raw material expertise and ingredient knowledge, in combination with Meatless' technology and product portfolio, will provide our customers with a versatile plant-based toolbox for meat and fish alternatives. The acquisition will allow for exciting new developments within BENEO's portfolio, while also supporting the business' sustainability ambitions."

The current management of Meatless will stay on board following the acquisition. Jos Hugense, CEO of Meatless comments, "We are glad that Meatless can make the next step in its corporate development with BENEO. BENEO, as a strong and experienced global player for functional ingredients, will enable Meatless to meet the growing demand and further accelerate the expansion of the business in new markets."

ⁱEuromonitor 2022

BENEO, a leading manufacturer of functional ingredients, announces its acquisition of Dutch company Meatless B.V., a supplier of textured plant-based ingredients that include faba beans, wheat, pea, lupin, and quinoa. This range fully complements BENEO's ingredients portfolio and allows for exciting new combinations. As a result, BENEO's customers will benefit from a much broader variety and greater flexibility to support the development of meat and fish alternatives.

- Ends -

About Meatless B.V.

Meatless B.V. was founded in 2005, employs more than 20 people, and is based in Goes, the Netherlands. Founder Jos Hugense, who comes from a family of butchers and meat processors and was the third generation to run the family business, decided to switch to the production of plant-based products in 2005. From an innovative start-up, Meatless, backed by venture capital fund SHIFT Invest and angel investors, has today evolved into a successful B2B supplier to the fast-growing vegetarian and vegan market, producing a broad portfolio of textured products used by major food processors in more than a dozen countries.

About BENEO

For further information on BENEO and its ingredients, please visit: www.beneo.com and www.beneo.com/news or follow BENEO on Twitter: @_BENEO or LinkedIn: www.linkedin.com/company/beneo

BENEO has long-term experience in developing and producing ingredients from natural sources for food, feed and pharmaceutical products. These plant-based functional ingredients help improve the nutritional and technical properties of a wide variety of products, by supporting health and optimising taste and texture. The company's portfolio includes functional carbohydrates from sugar beet, prebiotic chicory root fibre, plant-based proteins and speciality ingredients from rice. Through a unique chain of expertise, including the BENEO-Institute that provides decisive insights into nutrition science and legislation, and the BENEO-Technology Center that consults in application technology, BENEO supports customers by providing ingredients that promote a healthy lifestyle in a holistic way.

Formed in 2007, BENEO is active in over 80 countries, employs more than 1000 people, and has five state-of-the-art production sites in Belgium, Chile, Germany, and Italy.

For further press information, please contact:

Dawn Fontaine
Ripple Effect Communications
Tel: +1 617-536-8887
Email: dawn@rippleeffectpr.com

For further information please contact:

Inga Heinemann, Head of Corporate Communication
Maximilianstraße 10, 68165 Mannheim, Germany
Phone: +49 621 421-179
Fax: +49 621 421-160
Email: inga.heinemann@beneo.com

SOURCE: BENEO

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