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June 10, 2019

US plant-based food firm Before the Butcher acquired by Jensen Meat Co. owners

US plant-based business Before the Butcher has been acquired by the owners of a local meat company, it has announced.

By Leonie Barrie

The owners of US-based Jensen Meat Co, have acquired local plant-based business Before the Butcher.

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Gregg and Jeff Hamann, who have owned ground beef producer Jensen Meats since 2011, have taken a controlling interest in the fellow Californian business for an undisclosed sum.

The acquisition gives Before the Butcher access to a US$25m line of credit, a 90,000 sq ft production space, and cold storage warehousing facilities that, it said, will enable it to quickly scale up to meet escalating market demand for meat alternatives.

Before the Butcher launched its Uncut brand in the foodservice channel last year, initiated retail distribution last month, and currently has a portfolio spanning 12 products, including plant-based beef, chicken and turkey burgers as well as breakfast sausage patties, chorizo, pulled pork, chicken chunks, beef tips, and multiple varieties of ground beef and sausage.

It is expecting its retail distribution to reach more than 3,000 stores nationwide by August, joining foodservice customers that include 1,000 restaurants and 20 school districts. 

Danny O’Malley, founder and president of Before the Butcher, who remains part-owner of the company, said: “This acquisition validates our diversified product strategy and also gives us both the financial resources and the production capacity to support our strong growth forecasts,”

“It effectively turns us from a start-up to a major player in the space.”

Jeff Hamann said: “It’s clear that plant-based meats are on a growth trajectory. That makes Before the Butcher an ideal companion investment to Jensen Meats.

“With the company’s solid foodservice base, new retail initiative and broad product assortment, we are anticipating strong performance that will put the Uncut brand firmly on the map.”

Before the Butcher’s Uncut products are made from a combination of plant protein, soy, coconut and canola oils,and natural seasonings. 

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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