J. Douglas Hines has hired broker-dealer Deloitte Corporate Finance to help him secure an investment partner for Atlantic Natural Foods (ANF), a subsidiary of his holding company, the New Orleans, Louisiana, U.S.A.-based All About Healthy Foods.
ANF is a plant-based products and marketer that operates the Loma Linda brand, maker of the plant-based seafood alterative TUNO, which recently won a contract with Walmart. Since launching a year ago, ANF has secured placement in approximately 18,000 stores worldwide and is has the goal of achieving USD 50 million (EUR 44.6 million) in revenue within two years, according to a company press release.
“Our Loma Linda meal solutions launch in 2018 saw unprecedented growth as our products have rolled out in supermarkets and small grocery chains across the U.S., the United Kingdom, and Australia,” Hines said in the release. “We’re committed to creating, manufacturing, and distributing high-quality, sustainable plant-protein foods that are good for you and good for the planet. We’re seeking an investment partner who shares our vision and mission.”
“ANF’s incredible growth is driven by consumer demand of sustainable products that taste great,” Hines added. “Although vegans love our products, we’re seeing this demand in the mainstream market, too, as consumers of all stripes are increasingly aware of how their food choices effect their health and environment.”
ANF operates manufacturing facilities in Nashville, North Carolina, U.S.A., and Bangkok, Thailand, via a joint venture. Both are U.S. Food and Drug Administration-approved facilities, Kosher-qualified, non-GMO-assured, and hold SQF and BRC certification.
Hines said an “explosion” in the popularity of plant-based protein demand is creating “a need to drastically enhance the ANF’s supply chain, factories, finance, marketing, execution, and human and financial capital. Currently, ANF has manufacturing locations.”
Hines told SeafoodSource he believes developing products from plant proteins is the only way to feed the world’s fast-growing population.
“We can see those numbers and panic, or we can work to ensure we create products that meet the demands of today while delivering hope for the future,” he said. “I’m excited find a partner to join us in changing the world while delivering a high-quality, high-value, and sustainable product.”
Deloitte Corporate Finance Managing Director Rory Dineen said ANF represented a promising investment.
“We are pleased to work with ANF on this investment opportunity. The food industry is evolving and ANF’s plant-based food alternative products offer consumers affordable and sustainable protein options,” Dineen said.
