New Zealand alt-meat manufacturer Chalmers Organics will be acquired by Life Health Foods following clearance orders from the local competition regulator, the Commerce Commission.
Both companies supply a range of vegetarian and plant-based products such as tofu and alt-meat to supermarkets and retail stores. The regulator believes that the acquisition will not lessen competition in the market.
“The commission found that there are several smaller manufacturers of tofu who currently supply the major grocery retailers and other speciality retailers, and if encouraged, could increase their supply of tofu to these retailers,” said Anna Rawlings, chair of the Commerce Commission.
Considering the presence of foreign entities, she added: “Our investigation identified a number of recent entrants, particularly from overseas, in the supply of meat-alternative products which will constrain the merged entity.”
