US plant-based meat manufacturer Modern Meat is to launch its products in Australia in partnership with Adelaide-based Viveri, its first foray outside America.
Under the partnership, Viveru will onboard Modern Meat into its production facility and distribute to its network of retailers and national grocers.
“This is a great achievement for our company and the first step outside North America to becoming a global competitor in the plant-based meat alternative industry,” said Craig Wallace, head of global acquisitions for Modern Meat.
According to Modern Meat, both companies have finished their due diligence process and will move to product testing and production logistics. Viveri may decide to retrofit its existing facility to meet production needs, once the sales of Modern Meat grow.
“We have significant growth potential in the Australian market, said Tara Haddad, founder and CEO of Modern Meat. “It is crucial to team up with a partner who recognises the value of our unique products, and also has the capacity to execute production, distribution and accelerate our growth plans.”
“Our goal is to be a leader in the plant-based space, and we will do this through continued product innovation and an expansive global distribution network.”
The set-up phase will be completed this month. Initial production and distribution of products is expected to commence in the second quarter this year.