UK Plant Protein Maker The Tofoo Co Acquired by Private Equity Firm Comitis Capital

UK plant protein maker The Tofoo Co has been acquired by private equity firm Comitis Capital, with co-founders David Knibb and Lydia Smith continuing as investors in the business. The acquisition comes after sustained growth in the faltering meat-free market, with The Tofoo Co expanding its product range and securing partnerships with major retailers and foodservice giants. Despite a decline in the overall meat-free sector, The Tofoo Co saw revenue growth of 10% in 2023, reaching £20 million, and has become the second-largest meat-free brand in the UK. The company plans to further grow its presence in the UK and international markets by focusing on new products and expanding into foodservice.

Comitis Capital aims to support The Tofoo Co's growth by leveraging its expertise and network in the plant-based food market. With an increased demand for tofu products due to the rising interest in natural, healthier, and environmentally friendly diets, The Tofoo Co is well-positioned to capitalize on this trend and solidify its position as a leader in the plant-based meat alternatives market, both domestically and internationally.