a day ago
- Business
- Los Angeles Times
Culver City Plant-Based Food Manufacturer Daring Foods Acquired by Australian Firm
Daring Foods, a Culver City-based food manufacturer focused on plant-based meat substitutes, was acquired by Australian firm V2food for an undisclosed amount. The company had generated annual revenue of about $30 million from products sold in thousands of stores that include major grocers Whole Foods and Walmart.
'Daring has built an incredible, consumer-loved brand with strong reach across the U.S., and combining that with our food technology creates immediate opportunities to accelerate our mission to be one of the global leaders in plant-based protein,' said Tim York, chief executive of V2food, in a statement.
The company was founded in 2018 and raised more than $120 million to develop and expand its product line. It reached a valuation of $329 million in 2021.
Information for this article was sourced from V2food.
