Greenforce Poaches Vegan Egg Maker Neggst Ahead of Acquisition by Livekindly Collective

Greenforce, a German plant-based food producer, has acquired vegan egg startup Neggst ahead of its impending takeover by Livekindly Collective. Neggst, known for its vegan egg products, was founded in 2021 and has raised €7M ($7.8M) in venture funding. The acquisition of Neggst will allow it to access Livekindly's industrial manufacturing capacity and global distribution network, strengthening Greenforce's portfolio of plant-based products.

The acquisition is part of a wider consolidation trend in the alternative protein sector, with Livekindly Collective also owning plant-based meat brands like Oumph, Like, and Fry's. The company has been on an M&A spree, projecting a 200% uptick in profitability this year. With the demand for plant-based alternatives on the rise in Europe, especially in Germany, the acquisition of Neggst by Greenforce highlights the growing market for egg alternatives in the region amidst shortages and high prices in the traditional egg market.