IRVINE, Calif. – Private investors and owners of San Diego-based Jensen Meat Co., brothers Gregg and Jeff Hamann, have acquired controlling interest in plant-based meat company, Before the Butcher. The acquisition provides the plant-based meat company with access to a $25 million line of credit, a 90,000-sq.-ft. production facility and cold storage warehousing facilities. Financial details of the acquisition, which closed on May 23, were not disclosed.
“It’s clear that plant-based meats are on a growth trajectory. That makes Before the Butcher an ideal companion investment to Jensen Meats, which we have owned since 2011,” said Jeff Hamann. “With the company’s solid foodservice base, new retail initiative and broad product assortment, we are anticipating strong performance that will put the UNCUT brand firmly on the map.”
One year ago, Beyond the Butcher launched its UNCUT brand of 12 products including plant-based beef, chicken and turkey burgers, breakfast sausage, chorizo, pulled pork, chicken chunks, beef tips and ground beef and sausage. The company started in the foodservice segment and expanded into retail distribution last month. By the end of August, the company plans to offer its retail products in more than 3,000 stores nationwide as well as offering its foodservice products in 1,000 restaurants and 20 school districts. UNCUT products are also sold in the butcher case at Bristol Farms in Yorba Linda, California.
All UNCUT products are 100 percent plant-based, gluten-free, non-GMO, and made from a combination of soy, coconut and canola oils, and natural seasonings.
“This acquisition validates our diversified product strategy and also gives us both the financial resources and the production capacity to support our strong growth forecasts,” said Danny O’Malley, founder and president of Before the Butcher, who remains part-owner of the company. “It effectively turns us from a startup to a major player in the space.”