- The investment is aimed at increasing the business statistics of meat substitute and gluten free food market.
- No revelations regarding the financial terms of investments have been made yet.
With the global population paving on the roads of leading a healthy lifestyle, the demand for high diet foods and substitutes along with shifting focus towards veganism has been increasing every day. Major companies have been rolling out new products and ingredients to realize the consumer requirements for varied choices.
In such instance, a firm emphasized on growing the quality of American food chain, Manna Tree Partners, recently announced investing in the plant-based ingredient producer Nutriati. This investment comes as a bet on the expanding meat substitute and gluten free food market.
However, the financial terms of the investment have not yet been disclosed.
Credible sources claim that the investment is a result of the successful initial public offering of plant- based meat maker, Beyond Meat Incorporation. For the records, the company is leading the chart with a USD 12.7 million series C round in Nutriati whilst gaining exceptional funds from a private equity firm, Open Prairie.
With prominent companies like Beyond Meat and Impossible Foods introducing plant-based burgers to the restaurants and consumers, Nutriati is involved in the sales of ingredients which can be utilized by the food producers. The company uses pulses as substitutes for the eggs, meats, and gluten in the pasta.
Nutriati is not the only investment made by Manna Tree over the past few years. Considered to be the third investment, it is likely to amplify the revenue share fivefold in 2019, as is stated by the Nutriati Chief Executive, Michael Todd. Michael reportedly cited that the company is targeting ten times growth through 2020. The expansion can be highly influenced by the infusion of capital on the accounts of sufficing the market needs.
Source credit: https://www.reuters.com/article/us-manna-tree-m-a-nutriati/manna-tree-invests-in-plant-based-ingredient-maker-nutriati-as-meat-substitutes-sizzle-idUSKBN1Y82VV