Fenn Foods, a Sunshine Coast-based alternative meat company with products stocked in major retailers such as Woolworths (ASX: WOW) and Coles (ASX: COL), has been given a second shot at success after being acquired by rival Smart Foods almost two weeks after entering liquidation.
Founded in 20http://www.businessnewsaustralia.com/15 by Michelin star chef Alejandro Cancino, Fenn Foods – which is known for its signature product vEEF – joined forces with Love BUDS in late 2023 to form a new company known as The Aussie Plant Based Co. The deal came as biotech All G Foods, which initially launched Love BUDS in 2020, was looking to divest the brand to focus on its precision fermentation options.
Mark Robinson and Ken Whittingham of Fort Restructuring Partners secured the latest sale, under which Smart Foods will purchase the plant, equipment, stock, vEEF and Love BUDS brand names, registered IPs, and other related intellectual property. The liquidators are also working to pay out creditors and employee entitlements from the remaining assets.
Roughly half of Fenn Food’s 32 employees will be offered new roles at Smart Foods, with production to continue at the Sunshine Coast facility.
“As one of the largest suppliers of plant-based…
