USA; New York. Livekindly is expanding its portfolio: The international provider of vegan meat substitutes plans to acquire Dutch brand The Dutch Weed Burger.
Livekindly is buying The Dutch Weed Burger, expanding its portfolio to include algae as a base ingredient for meat alternatives. An acquisition agreement has been signed, the veggie specialist reported this week. According to the report, the latest acquisition relies on seaweed as a base ingredient to attract customers with its plant-based burger patties and other products. Livekindly expects the acquisition to expand its business in northern Europe and the United Kingdom, among other markets.
The companies did not provide financial details on the acquisition. The Dutch Weed Burger was founded in 2012, according to the statement, and came in at about $ 381,000 (about € 313,000) in sales revenue in 2020, according to credit reporting agency Dun & Bradstreet. In addition to burger patties, the Amsterdam-based company, which is listed with Albert Heijn, for example, also sells sausages and nuggets made from seaweed in its own online store. The company now hopes to gain access to the global market.
Livekindly CEO Kees Kruythoff is convinced by the algae specialist: "With The Dutch Weed Burger, we are expanding our range of plant-based proteins that we can offer our consumers in more than 40 countries." Alongside Like Meat and No Meat, the company is just another example of Kruythoff's buying spree in recent months. By means of a new round of financing, the veggie supplier had most recently secured millions of dollars in new funding for investment. (hue)