The Very Good Food Company (VERY) announced that it has acquired Cultured Nut Inc., a vegan cheese producer.
Cultured Nut currently sell in several retailers including Whole Foods. They offer cheese, cream cheese and plant-based butter.
VERY will rebrand Cultured Nut’s products to The Very Good Cheese Company, expected to launch in 2021.
"The acquisition of Cultured Nut allows VERY to efficiently enter into the dairy alternatives space. This is a significant milestone in the realization of our lo ng-term strategy of owning several brands under the banner of the Very Good Food Company in all major food categories providing consumers fun, innovative and healthier plant-based alternatives to everyday animal-based products,” says Mitchel Scott, chief executive officer of VERY.
The acquisition is timely and compliments the existing market as the plant-based food industry is growing quickly.