Modern Plant Based Foods has completed the acquisition of AnimalKind, a Richmond, British Columbia-based plant-based pet food company, through the purchase of all outstanding securities. This move diversifies Modern's portfolio beyond human food, tapping into the growing demand for sustainable pet products.
Modern Plant Based Foods is a Canadian food company based in Vancouver, British Columbia, that offers a portfolio of plant-based products including meat and dairy-free alternatives, soups and vegan snacks.
AnimalKind is known for its eco-friendly dog treats like "Blueberries," "Apple Chunks," and "Pumpkin," which cater to pet owners seeking ethical and plant-based options. According to the acquisition agreement, Modern issued 4 million common shares to AnimalKind shareholders at a price of $0.20 per share. The acquisition marks a significant step in Modern's growth strategy, positioning it in the expanding plant-based pet food industry.
Modern Plant Based Foods reiterated its commitment to sustainability, aiming to provide health-conscious, eco-friendly products for both consumers and their pets.
Adpated from a press release.