In Virginia, Nestlé USA agreed to acquire Sweet Earth, a plant-based foods manufacturer based in Moss Landing, CA. The acquisition will give Nestlé immediate entry into the plant-based foods segment, which is growing by double digits and expected to become a $5 billion market by 2020. Sweet Earth’s portfolio spans all meal occasions, diversifying Nestlé’s offering beyond its existing category leadership in meals and snacks.
Sweet Earth’s award-winning frozen meals, burritos, breakfast sandwiches, and chilled plant-based burgers and proteins are sold in more than 10,000 stores, including independent natural grocers, Whole Foods, Target, Kroger and Walmart.
The Sweet Earth acquisition follows Nestlé’s recent equity stake in Freshly, a direct-to-consumer delivery service, and continues the company’s evolution into new products and categories to match changing consumer preferences. Sweet Earth will continue to be led by co-founders Kelly and Brian Swette and will remain independent with support from Nestlé USA’s Food Division.