Audit, tax and consulting firm RSM has been appointed as full-service advisers for The Meatless Farm Co to support its ambitious growth strategy.
The Meatless Farm Co creates a range of fresh plant-based meat alternatives and is available in leading supermarkets across the UK including Sainsburys, Morrisons, Booths and Co-op. The British start up develops all of its new products at its new innovation centre based in Leeds city centre creating plant-based meat alternatives that are healthy and have a lesser environmental impact than meat.
The company is forecasting first year sales of £15m to £18m, going up to £40m in year two and £55m the following year. It is currently looking to raise £25m in funding, bringing the total capital raised to more than £30m.
The British business has plans to grow its product range and expand in the UK and internationally, recently opening an office in New York and securing a listing with Whole Foods Market stores across the USA. The global retail chain is one of the world’s most progressive food retailers, focused on offering innovative products and ingredients in natural and organic foods. The new listing has ensured its place as a serious contender in the global plant-based market, which is predicted to reach $27.9bn by 2025. The Meatless Farm Co is aiming to drive global market growth, alongside Beyond Burger and Impossible Foods.
Chloë Ellis, tax partner at RSM, said: “The Meatless Farm Co is an ambitious business with an ethical purpose at the heart of all they do. The business continues to grow, and we look forward to supporting the team as they scale up and expand into new markets in an extremely dynamic food category.”
David Tickner, head of Finance at The Meatless Farm Co, said: “The global plant-based market is really heating up and we’ve grown exponentially since launch. It’s such an important time in the company’s evolution and we’re thrilled to have RSM as our partner as our growth accelerates.”