USA: Meat substitute brand Simulate acquired by private equity fund Ahimsa

Private-equity investor Ahimsa has announced the acquisition of Simulate, the owner of US plant-based meat alternative brand Nuggs.

Available since 2019, Nuggs established a presence in over 5,000 retail locations, including Walmart, Target, and Whole Foods Market.

Commenting on the acquisition, Simulate co-founder and CEO Sam Terris said: “We were looking for a partner that balances pragmatism and optimism — a group that could help get alt protein economics to work on a large scale, while also willing to invest in higher upside technology. Ahimsa fit the bill; they have the infrastructure to drive sustainable growth for our existing assets and an appetite to invest in emerging technology with a longer return profile”.

Ahimsa CEO Matt Tullman added: “[..] Simulate has been a leader in this movement since the earliest days and much of their technology has never been seen by the public. We’re excited to help bring that tech to the market and believe the business’s best days are ahead”.

Financial terms of the acquisition were not disclosed.

Source: Just Food / Vegconomist