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Modern Meat plans entry into the Australian market
Test phase for the production of Modern Meat products begins
Modern Meat is pleased to announce a non-binding Memorandum of Understanding with SPQR Holdings, a distributor and co-packer based in Adelaide, Australia, under which the company will bring its portfolio of 100% vegetable meat replacement products to the Australian market.
SPQR has a well-established team with over 180 years of experience in food manufacturing, sales, marketing and business development. The company currently produces ready meals, pasta and protein, cakes and pastries, ice creams, coffee, sandwiches, salads, panini and bread, which are already sold to almost all the major supermarket retailers in South Australia such as IGA, Foodland, Coles and Woolworths.
SPQR is a 21,000 square foot [1931 m2] operation with full production staff. SPQR will incorporate Modern Meat into both its manufacturing facility and distribution platform, which is expected to further increase its distribution to the major national grocery retailers. As Modern Meat's sales grow, SPQR may decide to upgrade its existing facility to meet production requirements.
Currently, the plant is certified by HACCP [hazard analysis and critical control points, a quality tool for the production and handling of food], in-house quality control and a QA specialist to ensure consistent product quality.
Having grown up in Australia and worked there at the beginning of my career and later with the Macquarie Group, I can say with full confidence that there is a significant opportunity for growth in this market. I believe there is a demand in the country for high quality plant-based products such as Modern Meat and we look forward to filling that gap. By working with SPQR, I believe we have the right team and expertise to ensure that Modern Meat is distributed across the country and we can begin our global launch program," said Craig Wallace, head of global acquisitions for Modern Meat.
We've always had the vision that Modern Meat would become a world-renowned name, and with this launch in Australia we are one step closer to achieving that vision. I am incredibly pleased to have the expertise within the company and great colleagues outside to ensure a successful launch in Australia. The coming months are very promising for the company as we continue to grow with our in-house products while looking for acquisitions that fit our model," said Tara Haddad, CEO and founder of Modern Meat. dpa.
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