Eat Beyond invests in plant-based protein company Above Food

Canadian firm Eat Beyond Global Holdings has made an investment in Above Food, a plant-based protein company that distributes meat and dairy alternatives.

Founded in 2019, Above Food focuses on developing whole plant-based hamburgers, hotdogs/sausages, ground meat and sandwich meats. The company uses a blend of plant proteins created from heirloom pulses and gluten-free grains.

The brand currently has more than 300 customers in 35 countries.

This year, Above Food plans to launch business-to-consumer (B2C) product line of plant-based meats, dairy, baby food and baked goods.

Above Food executive chairman and CEO Lionel Kambeitz said: “What we’ve built is truly disruptive. The ability to have custody of these new proteins, including lentils, chickpeas, fava, peas and oats, from seed all the way through to the end consumers’ dinner plates, allows us to create nutrient density and superior functional performance across our B2B, Advanced Ingredient, and B2C lines of our business.”

Eat Beyond makes equity investments in companies that develop plant-based and alternative food products, as well as innovative food technology. The investment in Above Food further bolsters its portfolio of emerging alternative protein companies.

Eat Beyond CEO Patrick Morris said: “We are thrilled to add Above Food to our portfolio, it is an established high-growth, vertically integrated business that is focused on its proprietary seed-to-fork plant ingredients and plant protein.

“The company has established global distribution and saw revenue of $127m in the last 12 months alone.

“The company is growing quickly, and we are looking forward to supporting this growth as it continues to accelerate.”