San Diego Investment Firm to Buy Neat Foods

According to a Tuesday article published on the Lancaster Online, San Diego-based AFT Holdings has signed a letter of intent to purchase meat and egg alternative company Neat Foods through its subsidiary Atlantic Natural Foods for an undisclosed price. Atlantic Natural Foods already owns other vegetarian companies such as Caroline’s and Meatless Select and has noted that Neat Foods will retain its name in the arrangement. The natural foods company—created by Laura and Phil Lapp in 2011 in an attempt to find a minimally processed meat alternative for their vegetarian children—says its products are currently scattered in various store departments such as canned meats, rice, and international foods, and hopes the acquisition will improve and consolidate its presence. “That’s the goal: to have some shelf presence, in the same spot in every retail store, so the consumer knows where to look for them,” Kelly Krause, chief executive officer of Atlantic Natural Foods told the Lancaster Online.