Takeover bid?
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
This is leading to questions about the future of Australia’s once-hot alternative meat sector.
The New Zealand plantbased meat company Sunfed has announced it will be shutting down as its inventory runs out and investors leave.
The company, which started in 2015, provided meat alternatives across New Zealand and Australia, using regenerative yellow peas, water and coldpressed extra virgin olive oil as its primary ingredients.
It says “plant-based bubble” had burst and the existing venture capital investors were “no longer interested in supporting the business”. No one should be surprised.
