The Tofoo Co Snaps Up German Seitan Firm Topas

Credit: Wheaty

UK tofu business The Tofoo Co has struck a woody to bargain German seitan-products supplier Topas.

The Tofoo Co, backed by private-equity patient Comitis Capital, is adding seitan to a scope centred connected tofu and tempeh.

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Topas, based adjacent to Stuttgart, manufacturers seitan products, which it markets nether nan Wheaty marque successful Germany, arsenic good arsenic successful Austria, Switzerland and nan Netherlands.

The company, which employs much than 100 staff, reported turnover of €14m ($16.6m) successful its astir caller financial year, a connection from The Tofoo Co said.

The Tofoo Co said it plans to “accelerate growth” of nan Wheaty marque successful Germany and look to grow nan world distribution of nan products. The institution will activity to “unlock caller opportunities” for Wheaty successful nan UK.

The Tofoo Co is readying to motorboat its products successful Germany this year.

David Knibbs, The Tofoo Co’s CEO, said: “Wheaty has an exceptional practice and estimation wrong integrated plant-based products. We spot immense imaginable to build connected this beardown base, turn nan marque further crossed Europe and present breathtaking caller opportunities successful nan UK. This business besides gives america beardown roots successful Germany arsenic we bring The Tofoo Co to nan market.”

The woody will spot Topas – founded successful 1993 by Klaus Gaiser and his woman Sanni Ikola-Gaiser – get a caller managing director.

Organic-industry executive Sebastian von Eltz will presume nan position. Topas’s existent MDs – Klaus and Miikka Gaiser – will enactment on. Klaus will attraction connected merchandise development, pinch Miikka starring “production and organisational matters”.

In nan statement, Klaus Gaiser said: “Finding nan correct location for nan business was incredibly important to us. The Tofoo Co and its shareholders align pinch our values, our committedness to integrated value and our belief successful doing things nan correct way. They are bully stewards of nan business and location are galore evident areas for collaboration, peculiarly successful bringing better-for-you, earthy products to much group crossed Germany and nan UK.”

Felix Jauch, main astatine Comitis Capital, described nan woody arsenic “a highly strategical and complementary acquisition for The Tofoo Co”.

He said: “Topas brings heavy expertise successful integrated seitan-based products, and a beardown manufacturing and marque beingness successful Germany, enhancing The Tofoo Co’s existing level and providing a beardown section instauration astatine nan bosom of Europe.”

Comitis Capital invested successful The Tofoo Co 2 years ago. Knibbs acquired nan business successful 2016 alongside Lydia Smith.