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Century Pacific, a seafood processor, has announced the acquisition of Atlantic Natural Foods, a plant-based foods company that had filed for bankruptcy protection in April.
The deal is for all of Atlantic Natural Foods’ assets, including the Loma Linda ready meal range, Tuno alternative tuna brand, Neat plant-based egg substitute and Kaffree Roma caffeine-free beverages, as well as related manufacturing facilities, licences and inventory, and is valued at under $10 million.
Commenting on the move, Century Pacific Food chief operating officer Greg Banzon said: “The acquisition reflects CPNA’s measured and profitable growth strategy: tapping into established markets while accelerating momentum for plant-based food adoption across diverse geographies”.
“We are bringing together a trusted heritage brand and a disruptor brand under one roof, leveraging decades of consumer trust with bold innovation”, he added. “This allows us to serve both loyal customers and new generations seeking accessible, nutritious, and sustainable food choices”.
Founded in 2008, Atlantic Natural Foods purchased Loma Linda from Kellogg’s in 2014, repositioning the brand within the health food market. The company’s products are sold in North America and more than 30 countries.
Through the transaction, Atlantic Natural Foods’ brands become part of CNPA’s Unmeat plant protein line.
Source: GreenQueen
