Parsippany, NJ – 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 years[i]. 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 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.”
[i] Euromonitor 2022