A major supplier of meat-free and plant-based food products in Australia, which was known as Fenn Foods, went into liquidation on Oct. 9, and it had 32 employees.
The company claimed on its website that it was the first producer of meat-free and plant-based food in the country that was certified carbon neutral.
The company was founded by Alejandro Cancino, a Michelin-starred chef. He also led the company’s recipe development.
In 2023, it merged with All G Foods’ plant-based division, which resulted in the Lovebuds and Veef brands being sold by major retailers such as Coles and Woolworths.
The plant-based and meat-free food industry has been struggling due to falling sales.
Mark Robinson and Ken Whittingham, both of Fort Restructuring, were appointed to manage the company’s liquidation.
According to Mr. Whinttingham, the plant and meat-based food industry had been experiencing a consolidation phase before the COVID-19 pandemic.
After the company went into liquidation, Fort Restructuring was able to secure a buyer for its major assets.
The Gold Coast-based company Smart Foods agreed to purchase the assets of the company.
In addition to the plant and equipment, it also acquired the rights to the Love Buds and Veef brands.
Due to the company’s size and reputation in the industry, there was a high likelihood that consumers would have experienced product shortages.
Mr Whittingham said that the company’s liquidation was carried out to ensure that the best possible outcome was achieved.
He also noted that the company’s stock of perishable goods had been handled quickly.
1 Comment
I suggest that the falling sales in the plant based & meat free food industry ; indicate a return of logic- common sense & clear thinking .