Nestlé USA buys plant-based foods maker

Nestlé USA has acquired Sweet Earth, a plant-based foods manufacturer based in Moss Landing, Calif. The acquisition gives Nestlé immediate entry into the plant-based protein and foods segment, which is growing by double digits and expected to become a $5 billion market by 2020. Sweet Earth’s portfolio spans all meal occasions, diversifying Nestlé’s offering beyond its existing category leadership in frozen meals and snacks.

Launched in 2011 by co-founders Kelly and Brian Swette, Sweet Earth’s award-winning frozen meals, burritos, breakfast sandwiches, and chilled plant-based burgers and proteins are sold in more than 10,000 stores in the United States, including independent natural grocers, Whole Foods, Target, Kroger and Walmart.

“In the United States, we’re experiencing a consumer shift toward plant-based proteins. In fact, as many as 50% of consumers now are seeking more plant-based foods in their diet and 40% are open to reducing their traditional meat consumption,” said Paul Grimwood, Nestlé USA Chairman and CEO. “One of Nestlé’s strategic priorities is to build out our portfolio of vegetarian and flexitarian choices in line with modern health trends. With unique and nutritious food for all times of the day, Sweet Earth gives Nestlé a leading position in this emerging space.”

Sweet Earth produces its product lines (48 items) in a 40,000-sq-ft facility at its Moss Landing headquarters. Sweet Earth’s on-trend products feature global flavors and plant-based proteins like seitan (wheat-based), tofu and legumes like lentils, chickpeas and beans. Sweet Earth’s products span three core platforms: entrees, breakfast and plant-based proteins, called Righteous Meats.

The Sweet Earth acquisition follows Nestlé’s recent equity stake in Freshly, a direct-to-consumer delivery service, and continues the company’s evolution into new products and categories to match changing consumer preferences.

Press release