German plant-based brand Veganz has revealed it is planning an IPO, which will see its shares trade on the Regulated Unofficial Market of the Frankfurt Stock Exchange within a few months.
New shares from a capital increase will be included, as well as existing shares from some shareholders. The company is hoping for proceeds of around €35 million to help it establish a new production site and invest in research and development, marketing, and expansion.
Veganz currently has 120 plant-based products across 17 categories, including alt-protein, ready meals, breakfast items, snacks, and sweets. Last year, its revenue increased by 35% as it grew continuously throughout the year.
The company’s products are now available in half the countries in Europe, including several major supermarket chains. It has also expanded into the UK and Australia.
“With ten years of experience, Veganz is a ‘first mover’ in the plant-based food market. Under the slogan ‘Eating for the climate!’ we believe to offer a highly innovative product range that is able to satisfy consumers’ needs from breakfast to dinner. We also believe that none of our competitors has a comparably broad range as we do,” said Jan Bredack, founder and CEO of Veganz.
He added, “We see a positive momentum for purely plant-based food products driven by several trends like the rising consciousness of food sustainability and for animal welfare. But also the aging of younger generations plays an important role since the number of vegetarians and vegans as well as flexitarians is particularly high in the younger generation. Therefore, we believe that we have multidimensional growth potential and that now is the right time for Veganz to go public.”
