Loma Linda’s 135-Year Vegan Legacy Faces Uncertainty with Bankruptcy Filing

Atlantic Natural Foods, the company behind vegan brands Loma Linda and Tuno, has filed for bankruptcy after withdrawing from a takeover deal by Above Food. The company, founded in 2008 but with roots dating back to 1890, cited financial challenges including rising food inflation and supply chain disruptions as reasons for the bankruptcy filing. The company sells a variety of plant-based products in over 25,000 stores in the US and 30 other countries.

The bankruptcy filing followed the termination of the acquisition deal with Above Food, which would have expanded Atlantic Natural Foods' presence in the plant-based industry. The uncertainty surrounding the company's future reflects the volatile landscape of the plant-based industry, with sales and investments decreasing and consumer concerns about ultra-processed foods. Other companies in the plant-based sector have also faced financial struggles, leading to an increase in mergers and acquisitions in the industry.