Modern Meat signs deal to launch plant-based meat products in Australia

Canadian Modern Meat has signed a non-binding letter of intent (LoI) with food manufacturing company SPQR Holdings to roll out its plant-based meat alternative products in Australia.

According to the LoI, SPQR will be manufacturing Modern Meat food products at its 21,000ft² facility, as well as distributing them across major national grocers.

Based in Adelaide, SPQR produces ready meals, pasta and protein, cakes, pastries, gelati, sandwiches, salads, panini and bread.

SPQR products are distributed to major supermarket retail outlets in southern Australia, including Coles, Woolworths, IGA and Foodland.

Modern Meat founder and CEO Tara Haddad said: “We have always had the vision that Modern Meat would become a global household name and with this launch to Australia we are one step closer.

“These upcoming months for the company are very exciting as we will continue our growth pattern with our own inhouse products while looking for acquisitions that fit our model.”

Based on Modern Meat’s sales, SPQR could also retrofit its existing facility to accommodate production needs.

Modern Meat Global Acquisitions head Craig Wallace said: “Having grown up and worked in Australia early in my career and later at the Macquarie Group, I feel qualified to state that there is a significant growth opportunity in this market.

“I believe that there is a demand for quality plant-based products such as Modern Meat in the country and we look forward to filling that void. Working with SPQR, I feel we have the right team and expertise to ensure that Modern Meat is distributed across the country and begin our global launch programme.”

Earlier this month, Modern Meat signed a distribution co-manufacturing agreement with Real Vision Foods to further expand its product presence in the US market.