Bel Group to acquire plant-based cheese producer All in Foods

The Bel Group has agreed to acquire a majority stake in French start-up All in Foods, as part of its strategy to expand further into plant-based foods.

Founded in 2013, All in Foods’ portfolio includes a wide range of plant-based alternatives to cheese as well as plant-based sauces under its Nature & Moi brand, sold in supermarkets and for food service in France and internationally.

The acquisition is in line with Bel’s strategy that aims to expand its activities beyond cheese products and become a major player in the healthy snack market offering dairy, fruit and plant-based products.

In September last year, Bel Group also unveiled a “major strategic turn” that includes the development of hybrid products that integrate dairy and plant-based raw materials.

According to Bel, the acquisition will help speed up development of plant-based products across its portfolio which includes The Laughing Cow, Kiri, Mini Babybel and Boursin by offering plant-based alternatives, as well as hybrid products.

The news follows Bel’s purchases of Moroccan dairy producer Safilait  and fruit compote and dairy desserts manufacturer MOM Group, maker of Materne, GoGo SqueeZ and Montblanc brands.

“The Bel Group has enhanced its entry into the plant-based era and confirms its strong ambitions,” said Antoine Fievet, chairman and CEO of the Bel Group.

Fievet added: “We continue to diversify our product offering to meet new consumer expectations, and we are guided by our mission to champion healthier and responsible food for all. We believe in the excellence and potential that All in Foods has to offer, to meet the challenge for more sustainable food.”

Bertrand Jouault, All in Foods’ founder, said, “The All in Foods story is one of passion and family. We share common values with the Bel Group and the belief that plant-based foods offer enormous possibilities for our food of tomorrow.”

Following the deal, All in Foods’ founding family will continue to own the remaining 20% stake. However, a liquidity agreement will allow Bel to acquire 100% of All in Foods’ share capital by 2020.

The deal, which has been made for an unknown sum, is expected to close at the end of May 2020.