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York food company announces takeover worth £12m

Mon 26 Jun

Popcorn VFC on its food truck. Photograph: VFC

Mon 26 Jun 2023  @ 7:59am
YorkMix
Business, News

A fast-growing York company has acquired another company in a deal said to be worth £12 million in sales.

Vegan food company VFC has acquired Meatless Farm.

The takeover rescues the Leeds-based plant-based firm from administration.

VFC, based at York Business Park, says “the Meatless Farm brand will be retained, with the product range diversifying VFC Foods’ existing plant-based chick*n portfolio.

“The acquisition of Meatless Farm marks a crucial milestone in VFC’s growth strategy and its mission to provide more vegan products across retail and foodservice, with the aim to remove animals from the food chain.”

Co-founder Adam Lyons, who ran Source restaurant in Castlegate, York, before giving it up to concentrate on the VFC business, said: “Acquiring this remarkable brand is a testament to the hard work of the Meatless Farm team, who have done an exceptional job in developing and establishing quality products.

VFC co-founder Adam Lyons
VFC co-founders Matthew Glover and Adam Lyons

“Meatless Farm aligns seamlessly with our growth strategy, and we are confident in the underlying consumer demand for plant-based products.”

Matthew Glover, co-founder of both VFC, Veg Capital and Veganuary , stated: “VFC Foods is well positioned to sustainably grow the Meatless Farm brand once the cost-of-living crisis eases, and the plant-based space has experienced further consolidation.”

“Reducing our meat consumption is crucial for a healthier, more sustainable future and, at VFC Foods, we will continue developing vegan alternatives which taste so good, they render the need to kill animals obsolete.”

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