CHICAGO — Keystone Natural Holdings, L.L.C. (K.N.H.), a portfolio company of Keystone Capital Inc., has acquired J.P. Veggies Inc. (VeggieLand) and Superior Tofu Ltd. Financial terms of the transactions were not disclosed.
Founded in 1994, Parsippany, N.J.-based VeggieLand is a manufacturer and distributor of meatless veggie burgers and appetizers under the Franklin Farms and Jens & Marie brands, as well as private label.
Superior Tofu, founded in 1982, is a Vancouver-based manufacturer and supplier of tofu, soy milk and other soy-based products.
“These two acquisitions further enhance our ability to innovate and produce authentic, great tasting and healthy products,” said Kenny Sung, chief executive officer of K.N.H. “We look forward to providing a broader selection of complementary products across our collective customer base.”
VeggieLand and Superior Tofu will join Nature Soy in K.N.H.’s portfolio of plant-based protein products. Nature Soy, acquired by keystone in 2016, produces soy and vegetarian food products using non-G.M.O. ingredients. The combined business will continue to be led by Mr. Sung.“We are extremely excited about the continued development of our plant-based protein platform through organic growth and strategic acquisitions,” said Chaoran Jin, managing director of Keystone. “Keystone is committed to investing further in this natural, better-for-you segment.”