The Tofoo Co.
Business Description
The Tofoo Co., is a leading producer and brand for organic plant-based meat alternatives in the United Kingdom, commanding more than 60% market share in tofu and almost solely driving subcategory growth in recent years. Its healthy and differentiated products are mostly manufactured in its headquarter in Yorkshire, UK, with the highest quality ingredients, offering a unique texture and superior taste. The company further differentiates itself through innovative branding and packaging as well as modern consumer marketing and education approach. The Tofoo Co., was acquired in 2016 by David Knibbs and Lydia Smith who have grown the business from a small local hero to the market leader in the UK.
»We chose Comitis as our partner to enter a new era of rapid expansion. Their deep understanding of our business model and entrepreneurial thinking has left us convinced that they are the right choice to bring The Tofoo Co. to the next level. Their value-based investment approach aligns perfectly with our vision and we see significant opportunities for The Tofoo Co. ahead«
David Knibbs
Managing Director of The Tofoo Co.
Why We Invested
The Tofoo Co. is subcategory-leader with a differentiated product and brand as well as a strong track-record in the United Kingdom. There are significant market tailwinds driven by changing eating habits towards healthier and more environmentally friendly food the company can leverage going forward, which perfectly aligns with the investment themes of Comitis Capital striving for healthier and environmental-conscious generations to come. In addition, the Tofoo Co. has ample opportunities to grow in the domestic market, both in retail and in foodservice, as well as in continental Europe.
Strategy
Growth in the domestic retail market
Establishment in the foodservice segment
Focused international expansion
Scaling of the organization
Active market consolidation