The New Meat Company (TNMC) buys into L'herbivore

According to the company, it is acquiring more than a third of the start-up's shares. TNMC could secure a further 15 percent via an option.

The New Meat Company AG (TNMC) is buying into the Berlin start-up L'herbbivore. The company announced that it had already acquired a total of 36.05% of all shares a few days ago and could secure a further 15.35% via a call option. The two companies had already announced a collaboration in March, and the acquisition means that this is now quickly becoming very concrete.

L'herbivore was founded in 2016 and produces vegan alternative products made from seitan, a wheat protein. Customers can currently buy these in organic food stores and health food stores. According to the start-up, it does not use artificial additives in the production of its meat alternatives and instead relies on ingredients such as onions, oil or tomato paste. L'herbivore's range includes sliced seitan and seitan mince.

The acquisition also gives TNMC co-determination rights. L'herbivore is therefore set to relocate as early as summer 2022 and produce in Dobbertin in Mecklenburg-Western Pomerania. TNMC plans to take over a former game production facility there and turn it into a site for vegan product manufacturing. With the help of the new site, L'herbivore believes it will be able to increase its turnover to six million euros in three years.

Caroline Heil, CEO of The New Meat Company AG, is delighted with the acquisition: "L'herbivore impressed us from the very first second. Fantastic taste, certified organic and all products that you can cook for your children every day without hesitation," she says. "The founders live for their idea and have already managed to build up their own production and an impressive distribution network in the entire organic segment with their own resources."