IRVINE, CALIF. — Private investors and owners of San Diego-based Jensen Meat Co., brothers Gregg and Jeff Hamann, have acquired controlling interest in Before the Butcher, a plant-based foods company. The acquisition provides the plant-based food manufacturer with access to a $25 million line of credit, a 90,000-square-foot 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,” said Jeff Hamann. “That makes Before the Butcher an ideal companion investment to Jensen Meats, which we have owned since 2011.”
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 food service segment and expanded into retail distribution in May. 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 food service products in 1,000 restaurants and 20 school districts.
All Uncut products are 100% plant-based, gluten-free, non-G.M.O., 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 start-up to a major player in the space.”
Based in San Diego, Jensen Meat is a supplier of ground beef to the food service retail and school markets.