Plant-based meat brand This has secured investment from ITV as it looks to reach new consumers across the UK.
Part of the ITV AdVentures Invest, the deal is the broadcast network’s latest Media for Equity investment and first investment in a food company.
ITV has agreed to subscribe for £1.5m of shares in Plant Meat Limited, with the option to subscribe for two additional tranches of £1.5m each, in return for advertising inventory across ITV’s channels and ITVX.
This co-founder and co-CEO Andy Shovel said: “ITV is a media powerhouse, and to have them as an investor, especially as their first food business investment, is super exciting.
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“Not only did we get to make the porkiest plant-based TV ad ever, the scale of the investment means that we can reach audiences across the country and get closer to making meat-free the norm.”
It comes as the brand has added £1.6m to chilled meat-free in the last three months and is now the largest independently owned brand in the sector.
It is also forecast to hit £20m of revenue this year – over 50% up in comparison to last year’s performance.
The brand has recently expanded its food-to-go product portfolio in the UK, offering new salads and sandwiches, including a This Isn’t Chicken and Bacon Wrap and This Isn’t Chicken and Bacon Pasta Salad.
ITV AdVentures director Sheena Amin added: “As the fastest growing plant-based brand in the UK over the last two years, with broad retail distribution and strong product innovation, This is very well positioned to continue its strong growth within the plant-based meat alternatives sector.
“We expect consumer demand for conscious consumption to continue to grow and as a certified Bcorp with a broad set of products at attractive price points, This is the perfect brand to help make conscious eating accessible to all.
“With such a distinctive brand personality, I am confident that This’ upcoming TV campaign will stand out from the crowd and help the brand become a worthy household name.”
The news follows This first international launch into the Netherlands through an exclusive partnership with supermarket chain Albert Heijn.
