Categories: Business

Nestlé USA agrees to acquire Sweet Earth

The FINANCIAL — Nestlé USA on September 7 announced that it has agreed to acquire Sweet Earth, a plant-based foods manufacturer based in Moss Landing, California.

The acquisition gives Nestlé immediate entry into the plant-based foods segment in the US. The plant-based food market is growing by double digits and expected to reach CHF 5 billion worldwide by 2020, according to Nestlé.

One of Nestlé’s strategic priorities is to build out its portfolio of vegetarian and flexitarian choices, in line with modern health trends.

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Sweet Earth’s on-trend products feature global flavours and plant-based proteins like seitan (wheat-based), tofu and legumes like lentils, chickpeas and beans. They span three core platforms: entrees, breakfast and plant-based proteins, called Righteous Meats.

The Sweet Earth acquisition follows Nestlé’s recent equity stake in Freshly, a direct-to-consumer delivery service, and continues the company’s evolution into new products and categories to match changing consumer preferences.

Nestlé already offers a range of vegetarian protein-based products in some European markets with our Garden Gourmet range.

 

The FINANCIAL

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