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

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

The New Meat Company AG (TNMC) is buying into Berlin-based start-up L'herbbivore. As the company announced, it has already acquired a total of 36.05 percent of all shares a few days ago, and could secure another 15.35 percent via a so-called call option. Already in March the two companies had announced a cooperation, with the purchase now this becomes very fast very concrete.

L'herbivore was founded in 2016 and produces vegan alternative products from seitan, a wheat protein. So far, customers can buy these in organic and health food stores. According to its own information, the start-up wants to avoid artificial additives in the production of the meat alternatives and instead rely on ingredients such as onions, oil or tomato paste. L'herbivore's product range includes seitan slices and seitan mince.

The acquisition also gives TNMC co-determination rights. As early as the summer of 2022, L'herbivore is therefore to relocate and in future produce in Dobbertin in Mecklenburg-Western Pomerania. There, TNMC wants to take over a former game production facility 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 sales to six million euros in three years.

Caroline Heil, head of The New Meat Company AG, is delighted with the acquisition: "L'herbivore excited 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 throughout the organic segment with their own funds."