Britvic has announced the acquisition of plant-based drink refreshment Plenish.
Plenish joins Britvic’s portfolio of brands and strengthens the group’s offering in the plant-based segment.
Founded in 2012 by Kara Rosen, Plenish offers a range of plant-based milk and plant-powered juice drinks made from sustainably sourced ingredients.
According to the company, plant-based milk is set to achieve retail sales values of over £500 million by 2024 and is already stocked in grocery stores such as Waitrose and Sainsbury’s.
The acquisition is closely aligned with Britvic’s strategy of building a portfolio of soft-drinks brands for every consumer occasion and its focus on accessing new spaces in the soft drinks category.
The news comes as the non-soy plant-based milk market has grown more than tenfold over the past decade and it is fast becoming a mainstream category, with consumers favouring healthier, plant-based products over dairy.
“Plenish is a fantastic addition to Britvic’s stable of market-leading products, and I am delighted to welcome them to our business,” Britvic chief executive Simon Litherland said.
“In only a short time, Plenish has built a hugely impressive brand offering a fantastic range of products that cater to the growing demand for healthy and nutritious juices and plant-based milk. At Britvic, we have a long history of building successful brands and we see tremendous potential in Plenish that we look forward to releasing in the years ahead.”
Rosen added: “I’m so excited for Plenish to join forces with Britvic, who I’ve long admired as a brilliant builder of brands and shares similar values, particularly around healthier people and the planet.
“Together we can reach more people in more places with products and programmes that help you feel good, made in a way that you can feel good about.”