BENEO acquires meatless BV to further expand its portfolio of plant-based solutions

BENEO, one of the leading manufacturers of functional ingredients, has announced the acquisition of Dutch company, Meatless, ensuring it becomes a major player in the field of plant-based texturising 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 (Euromonitor 2022). The acquisition of Meatless allows BENEO to broaden its portfolio and offer customers a versatile selection of plant-based solutions that serve as texturisers 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 is the next logical step to reaffirm BENEO’s commitment to strengthening its business with solutions for plant-based alternatives.”

Meatless, 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 (that is, 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.

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, chief executive officer, 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 expansion of the business in new markets.”