It’s earth shattering to hear that Swiss-based food giant Nestlé has bought vegan food-maker Sweet Earth. But is it a sweet deal?
Nestlé has decided follow the huge plant-based food trend by stepping up their game to match these trends. For example, the vegan meat industry is expected to hit $5.2 billion by 2020 – that’s less than three years down the road. It’s no wonder Nestlé bought vegan food company Sweet Earth, who specializes in plant-based proteins!
Sweet Earth’s products are stocked in over 10,000 stores in the Unites States, including Whole Foods, Walmart, Target, and Kroger locations.
Paul Grimwood, Nestlé USA Chairman and CEO, mentioned in a statement that up to 50 percent of their customers are looking to add more plant-based foods to their diets, “and 40 percent are open to reducing their traditional meat consumption.”
He also said, “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.”
However, acquiring Sweet Earth is not quite enough to improve Nestlé’s reputation. Their Aero, Kit Kat, and Coffee Crisp bars aren’t by any means vegan, and they are not known as the most sustainable or environmentally-friendly company around. Hopefully by acquiring Sweet Earth, Nestlé is telling us that this is the beginning of a transformation.
Sweet Earth will continue to be run by its founders, Kelly and Brian Swette, and will be independent from Nestlé’s USA Food Division.
How much Nestlé acquired the company for is unknown.
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