LONDON, UK: S-Ventures has entered into a joint venture, Vegan Punk Ventures Limited (VPV), to invest in the production and sale of plant-based meat and fish alternatives that promote both healthy living and sustainable agriculture.
S-Ventures will own 50% of the issued share capital of VPV and has agreed to invest up to £100,000 in loans to co-fund the joint venture. VPV will operate commercially under the “PlantPunk” brand umbrella.
S-Ventures is excited to partner with Dave Ahern, an innovative, multi-award-winning chef in the plant-based foods sector, to accelerate growth of PlantPunk and its products.
Dave Ahern has already had success in this marketplace and is contributing his formulations, know-how and pre-existing investments in IP and equipment to VPV. Dave and certain associates own 25% of the share capital of VPV, is its MD and will lead its growth and operations.
A group of third-party investors own the remaining 25% of the issued share capital of VPV, and are committed to provide £50,000 of loans on the same terms as the S-Ventures’ loan. Dave Ahern and his associates have an option to subscribe for further shares in VPV, representing 20% of the post-dilution share capital, contingent upon the sales performance of the Company over the next 2 years and certain other conditions.
Under the PlantPunk brand umbrella, VPV will scale up production and marketing of its “ZeroBeef” range of plant-based meat alternatives. These products have already received rave reviews from clients and diners alike.
Made with 100% natural ingredients and containing no artificial additives of any kind, the product has a mere 5.7g of fat per 100g, less than half the sodium of other brands and less calories per 100g than lean turkey mince, it is already attracting interest from some of the biggest names in the food service industry. VPV will also review the prospective extension of the PlantPunk range for launch later in 2021.
The VPV investment adds to S-Ventures interests in the health and wellness foods marketplace, following the acquisitions earlier this year of probiotic chocolate brand, Ohso Chocolate, plant-based snacking company, We Love Purely, and plant-based protein bar, nutritional foods and Keto product company, Pulsin.
S-Ventures CEO Scott Livingston commented: “We are thrilled to welcome Dave, along with the PlantPunk brand, to S-Ventures and look forward to expanding on the great work that has already been done by Dave and his team. We are confident that together we can take PlantPunk to the next level in the plant-based alternatives market.”
Dave Ahern, MD of VPV, commented: “My team and I are delighted to join the S-Ventures family and look forward to further developing the PlantPunk brand, bringing a healthier, more environmentally conscious way of eating to a wider audience.”
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28 Jul, 3:53 pm GMT-4 ·Disclaimer