Orrick, Herrington & Sutcliffe LLP
08/22/2024 | Press release | Distributed by Public on 08/23/2024 06:57
Plant-based Meat Alternatives: Comitis Capital Acquires The Tofoo Co.
Deutsch: Orrick berät Comitis Capital beim Erwerb der englischen The Tofoo Co.
Comitis Capital, a private equity fund based in Germany, has acquired The Tofoo Co., a leading player in plant-based meat alternatives in the UK.
Orrick advised Comitis Capital.
THE COMPANIES
Frankfurt-based Comitis Capital supports entrepreneurs and businesses as they achieve ambitious goals with a strong sense of purpose. Its fund is set up in a highly flexible manner that enables bespoke solutions that can be adapted to benefit all stakeholders and thus, ultimately the business itself.
The Tofoo Co., headquartered in Yorkshire, UK, has grown from a small local hero to the market leader for tofu in the UK. It has over 60% market share in tofu and numerous awards for innovative products.
Beyond its core tofu portfolio, The Tofoo Co. offers value-added tofu products as well as other plant-based meat alternatives such as tempeh and seitan. With a strong holding in major retail, the company is expanding its food service channel with restaurant chains such as Wagamama.
THE IMPACT
Existing management David Knibbs and Lydia Smith will remain invested in the business and continue to steer the company's growth in the UK and international markets.
"David Knibbs and Lydia Smith have built a remarkable enterprise that is ready for the next phase of growth. The Tofoo Co. represents a great addition to our portfolio, covering the thriving plant-based food market," states Nikolaus Bethlen, Managing Partner at Comitis Capital.
Comitis Capital and The Tofoo Co. "share a unified vision of propelling The Tofoo Co. into a leading position in the international plant-based meat alternatives market," said Felix Jauch, Investment Associate at Comitis Capital.
THE TEAM
Oliver Duys and Nikita Tkatchenko in Düsseldorf and Daniel Wayte in London led the Orrick team advising Comitis Capital. The team also included Julia Schmitz, Carolin Ostendorf, Michael Gläsner, Alexander Tocili, Philip Jackson, Craig Johnston, Elizabeth Monro-Davies, Stefan Schultes-Schnitzlein, Carsten Engelings, Jonathan Rosen, Faraaz Samadi, Anna Humphrey, Nicola Whiteley, Charlotte Oliver and Lars Mesenbrink from the firm's German and UK offices.