San Diego-based AFT Holdings announced that its subsidiary, Atlantic Natural Foods, has signed a letter of intent to acquire the assets of Lancaster, Pennsylvania-based neat foods, LLC for an undisclosed amount. Founded by Laura and Phil Lapp in 2011, neat produces a natural, gluten and soy-free, shelf-stable, pecan-based meat substitute product developed specifically for vegetarians. The company also produces the neat egg™, an all-natural vegan egg-substitute product. neat’s products are currently sold in more than 2,000 stores both in the U.S. and overseas, including Wegmans, Target, Whole Foods, Kroger and Stauffers of Kissel Hill, reports Lancaster Online.

 

Atlantic Natural Foods has been seeking out shelf-stable alternative protein-based foods to add to their portfolio, according to a recent press release announcing the deal.

 

“At ANF, we believe adding alternatives for our vegan consumers is critical to creating a solid shelf presence for present and future consumers,” said Kelly Krause, the company’s CEO. Commenting on the deal, AFT Holdings also expressed how the acquisition fits with its drive to penetrate the healthy lifestyle space.

 

“Great synergies exist between these two companies, which will only enhance the future in the developing healthy living food space,” said AFT Holdings CEO James Douglas Hines. “The commitment to investing in developing concepts, especially within the future’s lifestyle market, is at the core of our strategy.”