Vegan chili con carne with vegetables and beans in tomato sauce in red saucepan, top view.

Atlantic Natural Foods, Above Foods Call Off ‘Go-Public’ Partnership

Dec. 23, 2024

After three years working toward entering a public environment in partnership, the two companies will continue to collaborate but not proceed with pending transaction.

Andy Hanacek

Atlantic Natural Foods LLC, manufacturer of shelf-stable, plant-based protein foods such as the Loma Linda, Tuno, Neat and Kaffree Roma branded products, announced it has withdrawn from a pending transaction with Above Foods, effective Nov. 1, 2024.

Both parties mutually agreed to the withdrawal after three years working toward entering a public environment in partnership. Atlantic Natural said the decision reflects “a strategic realignment” following an evaluation of the business landscape, and that it “remains committed to delivering sustainable, high-quality products.” Covid-19, supply-chain disruptions and food inflation all weighed on the decision, the company noted.

The two companies will maintain collaborative ties, the announcement noted, with Atlantic Natural retaining shares in Above Foods — and Above Foods retaining an interest in Atlantic Natural. Atlantic Natural is headquartered in Nashville, N.C., with its own manufacturing facility and a joint-venture project in Thailand. Its brands are sold throughout the U.S. and in 30 other countries.

About the Author

Andy Hanacek | Senior Editor

Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.