Oyster Bay Venture Capital has announced the sale of its portfolio company, British food-tech firm Nukoko, to international ingredients supplier Döhler. Nukoko has developed a bean-to-bar chocolate alternative made from field beans, offering a sustainable and resilient solution to volatile cocoa prices and climate risks in the industry. The acquisition highlights the potential for European food-tech innovations to address global challenges in the food industry.

The success of Nukoko's exit is seen as a milestone in the transformation of the European food industry, signaling a shift towards developing attractive products with reduced dependence on critical raw materials. Oyster Bay's investment focus on companies that improve the global food system's sustainability has been confirmed by the sale of Nukoko to Döhler. The acquisition marks the next step in the collaboration between Döhler and Nukoko, building on a previous investment and strategic partnership to scale up cocoa-free chocolate production.