Canadian plant-based meat producer strikes a deal with distribution and co-packer company based in Adelaide
By Murielle Gonzalez
Modern Meat has signed a non-binding letter of intent with SPQR Holdings, a distributor and co-packer based in Adelaide, Australia, to launch its portfolio of 100% plant-based meat alternative products.
SPQR has an operational team with over 180 years of experience in food manufacturing, sales, marketing, and business development. Currently, the company produces ready meals, pasta and protein, cakes and pastries, gelati, coffee, sandwiches, salads, panini, and bread, which are already distributed to supermarket retailers in Southern Australia including IGA, Foodland, Coles, and Woolworths.
Craig Wallace, head of global acquisitions for Modern Meat, said: “Having grown up and worked in Australia early in my career and later at the Macquarie Group, I feel qualified to state that there is a significant growth opportunity in this market.”
Wallace said there is a demand for quality plant-based products such as Modern Meat in the country and the company looks forward to filling that void. “Working with SPQR, I feel we have the right team and expertise to ensure that Modern Meat is distributed across the country and begin our global launch programme.”
Australian manufacturing partner
SPQR operates in a facility of approximately 21,000 square feet with full production staff. The company will be onboarding Modern Meat into its production facility as well as its distribution platform to likely increase its distribution to major national grocers.
The US company said that, as Modern Meat’s sales grow, SPQR may decide to retrofit their existing facility to accommodate production needs. Currently, the facility is certified with HACCP and in-house QC, and QA specialist to confirm product consistency.
Tara Haddad, chief executive and founder of Modern Meat, said: “We have always had the vision that Modern Meat would become a global household name and with this launch to Australia we are one step closer. “I’m incredibly pleased to have the expertise within the company and great counterparts outside the company to ensure a successful launch in Australia.”
Haddad noted that the upcoming months for the company will see the company continue in expansion mode. “We will continue our growth pattern with in-house products while looking for acquisitions that fit our model,” she concludes.
Last month, Modern Meat acquired vegan snacks brands Sun and Sunsations for $450,000 in cash.
Date published: 1 December 2020