Nestlé USA today it has agreed to acquire Sweet Earth, a plant-based foods manufacturer based in Moss Landing, California.
The acquisition gives Nestlé immediate entry into the plant-based foods segment in the US. The plant-based food market is growing by double digits and expected to reach CHF 5.5 billion (US$ 5.2 billion) worldwide by 2020.
Nestlé says that one of its strategic priorities is to build out its portfolio of vegetarian and flexitarian choices, in line with chaging health trends.
Sweet Earth’s on-trend products feature global flavours and plant-based proteins like seitan (wheat-based), tofu and legumes like lentils, chickpeas and beans. They span three core platforms: entrees, breakfast and plant-based proteins, called Righteous Meats.
The Sweet Earth acquisition follows Nestlé’s recent equity stake in Freshly, a direct-to-consumer delivery service, and continues the company’s evolution into new products and categories to match changing consumer preferences.
Nestlé already offers a range of vegetarian protein-based products in some European markets with our Garden Gourmet range