Vegan Food Group To Buy German Tofu Manufacturer

Vegan Food Group (VFG) has announced its acquisition of German tofu manufacturer TOFUTOWN, marking the company's first major deal as it expands into Europe. VFG aims to become a "Vegan Unilever" and, with TOFUTOWN now part of the group along with Meatless Farm and Clive's, is set to become one of Europe's largest plant-based manufacturers with revenues exceeding €100 million.

Established over 40 years ago, TOFUTOWN is a key supplier of natural, organic tofu, spreads, and meat alternatives in the EU, servicing major retailers like Aldi and Lidl. With headquarters in Wiesbaum and manufacturing facilities spread over 55,000 sqm across two sites, TOFUTOWN's addition is just the beginning of VFG's acquisition strategy, which aims for profitability by 2024. The company, led by founders Adam Lyons and Matthew Glover, is dedicated to removing animals from the food chain, positioning itself as a leader in the plant-based market.