Current Foods is the second acquisition by Wicked Kitchen within a year, in a move that CEO Pete Speranza says is accretive to Wicked Kitchen's portfolio, focuses on an "exciting" growth segment, and is reflective of the plant-based industry's need for consolidation.
Wicked Kitchen said that the all-stock transaction bolsters its foodservice capabilities with plant-based sushi grade tuna and salmon. Speranza has indicated that the acquisition signals a proactive strategy in the plant-based industry for continued growth in a competitive market.
The company launched into foodservice last year with concessions in sports and entertainment arenas in the US and this year, into Booker Wholesale, the British food service provider.
"Wicked continues on our mission to disrupt the food space with plant-based culinary-forward solutions for consumers," said Chad Sarno, co-founder and Wicked Kitchen chief culinary officer.
"This synergistic opportunity to bring Current into the family, only amplifies the impact we can have as we continue to push forward in improving ocean health and all that call it home."
Wicked Kitchen offers the largest variety of chef-crafted, animal-free consumer packaged goods in the industry available at 90,000 distribution points with more than 40 products in the US and over 150 products in the UK.
The brand's multi-category plant-based retail offerings include frozen and ambient products such as heat-and-eat entreés, handcrafted frozen pizzas, as well as ice creams and other novelties.