Wicked Kitchen, a company based in the United States, has recently acquired Current Foods, a local plant-based seafood company. The specific financial details of the acquisition have not been disclosed.
Through this transaction, Wicked Kitchen has gained access to foodservice capabilities in the realm of plant-based sushi-grade tuna and salmon.
The headquarters of Wicked Kitchen in Austin, Texas, recently completed the acquisition of Current Foods, which is headquartered in California. This acquisition involved the purchase of various assets from Current Foods, including equipment, brand trademarks, and global sales accounts.
Current Foods, an alternative protein startup, specializes in offering plant-based sushi options such as faux tuna and salmon. Their products are supplied to foodservice and fine dining establishments both in the United States and Europe. For the European market, Current Foods collaborates with a co-manufacturer located near Barcelona, Spain.
Wicked Kitchen, known for its distribution of plant-based products through major retailers in the US and the UK, is eager to enter the sushi market and gain exposure in that sector.
According to a spokesperson, “We believe [faux] seafood will continue to build demand as the environmental impact on sea life becomes more visible. I’m also excited to enter the sushi grade salmon and tuna market which is a sub-category that is our bullseye for our consumer and growing,”
In September of last year, Wicked Kitchen completed the acquisition of Good Catch, a consumer packaged goods (CPG) brand specializing in plant-based seafood. Gathered Foods was the previous owner of Good Catch.
CEO Pete Speranza said, “Current Foods is a perfect match for Wicked as a global-impact brand with the same mission and complementary products.”
“With this deal and the Good Catch acquisition, we’re uniquely positioned as consumers continually learn about the environmental impact realities on sea life.”
Speranza said the deal brings Wicked Kitchen new global opportunities, channels and consumers. “We’re able to put the Current Foods brand in the best possible spot to thrive and as a versatile multi-category brand, Wicked Kitchen is the home to do that.”
“There’s only so much shelf space and we’re all fighting for volume.”
Wicked Kitchen boasts a diverse portfolio featuring an array of plant-based retail options across frozen and ambient categories. This includes a delectable selection of entrees, frozen pizzas, ice creams, and various other products.
Last year, Wicked Kitchen made its entry into the US foodservice channel by establishing a presence in sports and entertainment arenas. This year, the brand expanded its reach in the UK through a partnership with distributor Booker Wholesale.
Following the acquisition of Good Catch, Wicked Kitchen made an exciting announcement regarding its additional funding.
The privately-owned company recently revealed securing $20 million in bridge funding, bringing its total raised capital to an impressive $34 million to date.
Wicked Kitchen welcomed notable new investors into its fold, including renowned actor Woody Harrelson, the venture-capital fund Ahimsa VC, and the Thailand-based food group Nutra Regenerative Protein.
