VeggieLand, a client of investment bank Tully & Holland, has been acquired by Nature’s Soy, a portfolio company of Chicago-based Keystone Capital.
VeggieLand, based in Parsippany New Jersey, was an independently owned, broadly known brand name in the meatless industry with brands such as Franklin Farms and Jens and Marie under its portfolio. The Company handles a broad mix of private label, food service and retail business. With its superior products, clean labels, healthy on-trend product line, diversified customer base and distribution channels, solid financial performance and additional growth potential, VeggieLand was an attractive candidate for several strategic and financial buyers. VeggieLand has been a family business since its founding and the owners saw an attractive opportunity to exit as the demand for meatless protein products increases and the market consolidates.
Keystone plans to integrate VeggieLand into its recently acquired Nature Soy platform which is a major US supplier of soy and vegetarian products to specialty and Asian grocery stores. VeggieLand offers Keystone a business with a complimentary customer base, strong customer demand for its current products and growth potential, with the recent investment in a larger production facility. Nature Soy provides a platform for the Company to offer its current and prospective clients a broader range of healthy products backed by ownership willing to invest in growth.
