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Jay&Joy, a French company specialising in plant-based cheese alternatives, has announced it has acquired its peer Les Nouveaux Affineurs, as well as securing a €2 million ($2.1 million) funding round to support the deal.
As part of the acquisition, Jay&Joy will take over a production site in Ivry-sur-Seine, doubling its capacity. It will join its existing portfolio of brands, such as Jean-Jacques and Janis, with those of Les Nouveaux Affineurs, including L’Affine d’Albert and La Buche.
Commenting on the move, Jay&Joy CEO Cesar Augier said: “Our ambition is clear: to offer exceptional plant-based alternatives while preserving our traditional know-how and accelerating our European expansion. This acquisition marks a crucial step in strengthening our leadership in a fast-growing market”.
Les Nouveaux Affineurs founder Nour Akbaraly added: “This merger will enable us to achieve veritable industrial scale-up, with extensive product and technology portfolios. This makes a lot of sense in terms of structuring our still emerging sector, while strengthening our credibility as a pure player in the market in the face of the historical cheese players who are also developing their plant-based offerings”.
Source: Vegconomist / GreenQueen
