Fladgate has advised Bridford Investments Limited in its capacity as lead investor in the recent equity capital fundraise by Meatless Farm Limited. The £24m fundraise was conducted by way of a private placement of shares to fund the further global expansion of the Meatless Farm group and further development of its product range.
The Meatless Farm has developed, among others, plant-based mince, burger patty and sausage using pea protein, with a mission to help people to reduce their meat consumption, with the environmental, financial and health benefits that a plant-based diet brings.
Founded by Morten Toft Bech in 2016, the Meatless Farm’s products are currently made available through mainstream supermarkets Tesco, Sainsbury’s, Ocado, Morrisons, Asda and other retailers, as well as directly and through restaurants, pubs and caterers.
Lead partner Jamie Hamilton says: “The vegan market continues to go from strength to strength, with a continued rise in consumers reducing their meat intake and switching to meat-free and vegan products and innovative companies like Meatless Farm finding new ways to fulfil that demand. We were delighted to work with Bridford Investments on this transaction, which is another good example of our recent work on transactions involving innovative foodtech companies.”
The Fladgate team comprised Jamie Hamilton and Alex Taylor (private equity & venture capital), Hamilton Forrest and Gemma Grunewald (tax), Alexandra Cooke (commercial & IP) and Ingrid Hesselbo (employment), all supported by trainee Tyler Hilborne.