British producer of vegan, plant-based meats, Meatless Farm, is reportedly offering its customers a chance to put their money where their mouth is and directly invest in the fast-growing company. The firm hopes to follow in on the footsteps of runaway “alt-food” successes like Oatly.
As per sources, the £5 million crowdfunding initiative is the first time the Yorkshire-headquartered firm has provided retail investors the chance for investing with an initial stake of just £10 million. According to Morten Toft Bech, the Founder of Meatless Farm, the chance comes at a time when the consumption of meat-free meals a couple of times a week is no longer niche.
It is to be noted that investors are eager for cashing in on expanding sales of plant-based foods. Following a nearly 70% rise in share price, Oatly, the Swedish alt-milk maker, presently has a valuation of $17 billion. The company was listed on the U.S. stock market in the previous month.
Over the past five years, the plant-based and meat-free dairy categories have doubled in size in the United Kingdom alone and are now worth a valuation of just under £600 million.
As per reliable sources, Meatless Farm has earlier pulled in cash from larger investors, raising a sum of £38 million in the past three years from family and private offices. The company continues to weigh up the merits of listing on the stock exchange. However, Toft Bech stated that there was no urgency in pursuing one.
Bech further added that the company is reaching a tipping point and it is possible to decrease around 8% of the total emissions in the United Kingdom if consumers ate just one less meat meal every week.
As stated by the company, it is not pro-vegan or anti-meat, but intends to offer tasty and affordable meal alternatives. This is in an effort towards the development of a more sustainable global food system. The products of the company are made by using pea protein, and comprise hotdogs, mince, and sausage rolls.
Source credit: https://www.theguardian.com/business/2021/jun/14/meatless-farm-gives-customers-chance-to-put-money-where-their-mouth-is