Food Strategy Associates Europe LLP are delighted to have provided Commercial Strategy & Due Diligence to The Tofoo Co on their sale to Comitis Capital, and we congratulate all parties involved on a successful outcome.
The Tofoo Co is one of the UK’s leading chilled plant-based meat players, having quickly captured scale and grown to the #2 brand in the category, overtaking Cauldron. The brand has been instrumental in developing the tofu segment in the UK, accounting for >85% of tofu segment growth between 2019 & 2023.
The Due Dilgence was preceded by support on the business’ Commercial Strategy, identifying and quantifying international and foodservice opportunities for the business, to feed into the business plan. As part of the due diligence work we purchased and analysed scan data, assessed market performance, conducted a review of the competitive landscape and evaluated the outlook of the category. The analysis was underpinned by consumer research, which was commissioned to review The Tofoo Co brand, drivers / barriers to consumption and test new product concepts.
Our Managing Partner and Former Quorn MD Robert Lawson oversaw the project alongside Sophie Young, Manager at FSA, supported by Alec Bandy, Senior Analyst.
Robert congratulates The Tofoo Co founders David & Lydia Knibbs – “David and Lydia have created a great business with The Tofoo Co and their ability to grow the category as others faced headwinds is a testament to the business they have developed. Comitis will be a great owner and we look forward to working with the business in the future”
This is one of many projects we have completed in the meat alternative category, reflecting our unrivaled experience and knowledge in this space, as demonstrated by feedback, co-founder David Knibbs
“Food Strategy Associates’ deep understanding of the category brought a depth to the Vendor Due Diligence and commercial narrarative. The output of the consumer research brought valuable insights and helped strengthen our business plan. We look forward to working together with the team on the ongoing support in our international expansion”
Notes to Editors
Food Strategy Associates Europe LLP provides Strategic and M&A support exclusively to businesses operating in or with an interest in the food and beverage sector. Unlike other advisors our senior team have all held leadership roles in the food and beverage industry enabling us to draw on decades of knowledge and unrivalled networks to best support our clients.
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