Fleury Michon acquires British plant-based business Allplants

Fleury Michon has acquired the British plant-based food business Allplants, taking ownership of a retail brand and its associated commercial operations as part of the French manufacturer’s international expansion strategy. The transaction was signed and completed on 20 October 2026, transferring 100% of the company’s shares for an undisclosed amount.

Allplants generates approximately €5 million in annual revenue, representing less than 1% of Fleury Michon’s group turnover. Its earnings before interest, tax, depreciation and amortisation are close to break-even. The figures describe the scale and operating profitability of the acquired business rather than its purchase price, which neither party has disclosed.

The acquisition includes Allplants’ commercialisation activities, employees and rights associated with the brand. Fleury Michon has not identified any British manufacturing site or new production equipment transferred as part of the deal. The distinction is important because the transaction provides a sales and brand platform without establishing that the purchaser has taken ownership of an operating food factory.

Fleury Michon intends to use Allplants to accelerate the introduction of its plant-based range in the United Kingdom. The group considers the British market more developed than France in this category, offering scope to extend its product portfolio through an existing retail presence rather than building every commercial relationship from the beginning.

Allplants supplies plant-based prepared foods to British retailers including Tesco, Sainsbury’s, Waitrose, Ocado and Whole Foods Market. Its range includes chilled and frozen foods across several formats, giving the new owner access to established product positioning and distribution channels. The buyer has not announced the first additional products it will manufacture or supply under the brand.

The business has undergone earlier ownership and operational changes. Its original trading operation encountered financial difficulties and entered administration in 2024. The brand subsequently passed to Ella and Matthew Mills, the entrepreneurs associated with Deliciously Ella, while other manufacturing-related assets and intellectual property were dealt with separately during the restructuring.

Those earlier transactions make it inappropriate to assume that ownership of the Allplants name automatically includes every recipe, production method or industrial asset developed under the original business. Fleury Michon’s latest announcement identifies the acquired commercial operation, team and brand rights, but does not claim that all historical Allplants manufacturing assets have been reunited within the new ownership structure.

Manufacturing arrangements for future Allplants products will therefore need to be established separately. Fleury Michon operates food production facilities in France and has experience in prepared meals, cooked meats and other chilled products, while alternative arrangements could involve external manufacturers. The group has not confirmed which factories will produce the additional plant-based range intended for British customers.

The production requirements will depend on the recipes and formats selected. Prepared plant-based foods can involve cooking, blending, forming, portioning, filling and packaging, with different equipment requirements according to ingredients and shelf life. A chilled ready meal and a frozen vegetable-based product may share parts of a manufacturing process but need distinct temperature controls, packaging specifications and distribution arrangements.

Plant proteins can introduce particular formulation constraints. Their water-binding properties, texture and interactions with starches or fats affect processing and the finished eating characteristics. Where products replace conventional meat or dairy components, manufacturing teams must determine how ingredient changes influence preparation, cooking, handling and stability. No specific formulation transfer or equipment adaptation has been announced as part of the acquisition.

Retail distribution also requires reliable product identification and compliance with British food information rules. Ingredients, allergen declarations, nutritional information and claims must correspond to the actual formulation, while chilled and frozen products require defined storage and transport conditions. Introducing new products through an acquired brand therefore involves technical and regulatory work beyond obtaining shelf space.

Fleury Michon’s established manufacturing experience may support future product development, but the operational benefit will depend on how the companies integrate their capabilities. The group has not provided a capital expenditure forecast, a target number of additional products or expected annual manufacturing volumes. No announced investment should be inferred from the buyer’s existing factory network.

Allplants managing director Kerry Atack is expected to continue leading the business under the new owner, while Ella Mills will remain associated with the brand as an ambassador. Maintaining those relationships gives the acquiring group continuity in commercial operations and brand identity as it develops its British presence. The detailed management and reporting arrangements following integration have not been disclosed.

The acquisition also follows a period of financial pressure and restructuring across parts of the plant-based prepared food sector. Allplants’ earlier administration demonstrated that consumer recognition does not necessarily translate into a sustainable production and distribution model. The latest transaction places the brand within a larger food manufacturer, although the acquired operation’s near break-even EBITDA does not establish that future expansion will be profitable.

Revenue of approximately €5 million remains small compared with Fleury Michon’s wider business. That creates room for growth but also means the proposed expansion will depend on product development, retailer demand, manufacturing costs and distribution performance. The company has not published an Allplants sales target or timetable for reaching a larger commercial scale.

Completion of the transaction on 20 October gives Fleury Michon immediate ownership of the commercial business rather than leaving the acquisition subject to a future closing. Its confirmed gain is a British plant-based brand, established retail relationships and an operating team. The manufacturing consequences will become clearer when the group identifies the products, factories and capacity arrangements supporting its planned UK expansion.