Next Gen Foods, widely recognized for its fibrous and succulent Tindle product, has expanded its horizons in the plant-based sector through a recent acquisition. According to a press release regarding this acquisition, the company’s mission is to establish a platform that brings together like-minded brands committed to delivering quality taste and experiences. This initiative encompasses popular categories such as dairy, seafood, and meat. As Tindle continues its robust expansion, this is an opportune moment for the company to leverage its popularity to elevate another brand.
Mwah, founded in 2020 by Claudia Comini and Damian Piedrahita in London, emerged from their backgrounds as consultants in the food and beverage and hospitality industries. They developed a unique process that combines plant proteins, lipids, and natural flavors to mimic the characteristics of pure cream. The first product that Next Gen will introduce is Madagascan Vanilla Gelato, crafted from ingredients such as cashews, coconut oil, vegetable fibers, natural flavors, sugar, salt, and organic Madagascan vanilla.
Next Gen aims to launch Mwah’s gelato in a manner similar to Tindle. Following its grand introduction at Expo West this month, the gelato will be available in two U.K. restaurants—one specializing in desserts and the other a vegan establishment. According to an email from Next Gen, the U.K. foodservice sector will serve as the initial market for the brand, with plans to eventually expand into retail and other key markets, including the U.S. and Germany.
While Tindle has enjoyed remarkable success thus far, the founders of Next Gen have established a reputation for their expertise in the plant-based food industry, adept at gaining attention and recognition. Menezes previously held the position of general manager at Country Foods Singapore, while co-founder and Chairman Timo Recker created the German plant-based brand LikeMeat, which was acquired by The Live Kindly Collective.
In its first two years, Next Gen Foods has raised an impressive $130 million, beginning with a record-breaking $10 million seed round in February 2021—the largest ever for a plant-based company at such an early stage. Five months later, the company announced its plans for a U.S. launch along with a $20 million extension to its seed round. The expansion kicked off in February 2022, during which Next Gen again broke records with a $100 million Series A round.
The market for plant-based frozen treats is becoming increasingly competitive, although there are fewer players in the gelato segment. The closest major competitor is Unilever’s Talenti, which offers a dairy-free option containing eggs. Next Gen mentioned in an email that gelato is renowned for its creaminess, making it a challenging dairy product to replicate. As the company forges ahead, it will also explore the potential uses of calcium citrate 500 mg, which may enhance the nutritional profile of their offerings and contribute to the growing demand for plant-based alternatives.