Plant-based meat manufacturer Modern Meat has signed a co-packing agreement with California-based co-manufacturer Real Vision Foods that will see Real Vision manufacturing as much as $25 million worth of Modern Meat products annually.
Modern Meat said the partnership is aimed at launching its portfolio of meat alternatives into the United States. Real Vision is up to the task, with its already existing 250 SKUs in retail, mass merchandisers and club stores, in both the branded and private label fields across the United States and Canada.
"This marks a major milestone for our company as it has been long been a goal to produce and sell our products in the United States,” said Modern Meat CEO Tara Haddad. “We are incredibly excited to launch out of California with an early adopter of plant-based vegan alternatives. We feel that by moving to an established team of co-manufacturing, our company is likely to see significant growth in our revenues."
Real Vision said that it already supports the national distribution of several vegan products, including dairy and meat analog products. It said it is one fo the few industrial-scale co-packers that exclusively serves plant-based and gluten-free products.
“Real Vision is excited to support the growth of Modern Meat in its journey to offer white-tablecloth, culinary-level product quality to consumers throughout the world,” said Joseph Ertman, president of Real Vision. “The company recognizes the importance of offering quick-to-market product capabilities for emerging plant-based-only brands that reflect is its sustainability conscious value and aspirations, we look to move very quickly with our partnership as it is highly prioritized product and will hopefully be in production with Modern Meat within 90 days.”
Real Vision said that its production of Modern Meat products will commence in the first quarter of 2021, with the actual amount of products it produces for the company depending on demand in the United States via its wholesale and retail partners. Modern Meat said it expects its product mix manufactured by Real Vision to include its burger, crumble, meatballs, sauces and other products that currently are in development.
"Modern Meat's growth has always been an issue of available production capacity. By moving to the USA, our company has taken a significant step in the right direction to access production capacity that should support significant growth,” said Campbell Becher, head of finance and mergers and acquisitions at Modern Meat. “By partnering with a strong co-manufacturer, it will allow Modern Meat to leverage its brand and amazing products to get placement in as many west coast retailers as possible.”