Nestle acquires Sweet Earth to bet on CHF5 billion plant-based foods market

Nestle

Swiss-based Nestlé SA said it has acquired Sweet Earth, deal that will give the foods giant access to the plant-based market.

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.

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

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.

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