Cultured Foods, a manufacturer and distributor of alternative, plant-based vegan foods, has been purchased by CV Sciences Inc., a consumer wellness company specializing in hemp extracts and other natural ingredients and products, according to an announcement by CV Sciences. Cultured Foods will operate under CV Sciences as a wholly-owned subsidiary.
Cultured Foods’ curated plant-based products are currently sold in 15 European countries, and this acquisition creates an opportunity to import them to the U.S. In addition, Cultured Foods’ Warsaw, Poland, base of operations gives CV Sciences an opportunity to grow its distribution network and become a more globally focused health and wellness company.
All of Cultured Foods’ employees will transition to CV Sciences employees, the announcement said, and Joseph Dowling, CEO of CV Sciences, said that the company’s “immediate plan is to leverage our B2B distribution network and bring convenient and sustainable plant-based foods into the US natural product channel while working with Cultured Foods to grow their business in the European market.”
Upon closure of the deal, Barbara McWhorter, founder of Cultured Foods, will continue as the general manager of the European manufacturing and distribution business.