By Jade Scipioni.
Food giant Nestle announced Thursday that it is buying a California-based husband-and-wife startup called Sweet Earth that specializes in plant-based frozen meals.
The Swiss company, known for food brands like Lean Cuisine and Stouffer’s, said the deal is aimed to increase consumers growing desires for healthy, vegetarian options.
“This segment has been identified for us globally as a key area a few years ago,” Wayne England, head of strategic food operations at Nestle said in a statement. “Giving the world better access to vegetarian-based or plant-based food is something we want to do.”
Nestle USA said Sweet Earth, a six-year-old startup, which reportedly had $25 million in revenue last year, will remain a stand-alone business, and stay at its headquarters in Moss Landing, California.
Read more at Yahoo Finance.