Atlantic Natural Foods Terminates Agreement with Above Foods

Leading shelf-stable plant-based food manufacturer to transition back to private ownership, focusing on advancing the next generation of plant-based solutions

NASHVILLE, N.C., Dec. 18, 2024 /PRNewswire/ -- Atlantic Natural Foods, LLC (ANF), the leading shelf-stable manufacturer of award-winning Loma Linda®, neat™ and TUNO™ brands, confirms it has withdrawn from the pending transaction with Above Foods (ABVE), effective as of November 1, 2024.

After a three-year journey toward entering a public environment in partnership with Above Foods, both parties have mutually agreed to the withdrawal. This decision reflects a strategic realignment following a comprehensive evaluation of the evolving business landscape. ANF remains committed to delivering sustainable, high-quality products to its customers, while leveraging its 150+ years of leadership expertise in consumer food products and operations.  Factors such as the global impact of COVID-19, supply chain disruptions and rising food inflation played a key role in its decision. ANF leadership will resume direct fiduciary oversight, focusing on addressing these evolving challenges and reaffirming its commitment to innovation and quality.

"Operating in the industry's ever-changing landscape has not been without its challenges, but we remain steadfast in our commitment to resetting the standards for the years ahead," said ANF Chairman Doug Hines. "We are drawing on tried-and-true food preparation and supply methods that have withstood the test of time to meet the needs of our global consumers."

Despite the transition, ANF and Above Foods will maintain collaborative ties, with ANF retaining shares in ABVE and Above Foods retaining interest in ANF. After a three-year partnership to bring ANF into a public environment, ABVE and Above Foods have agreed to ANF's withdrawal from the current go forward public strategy.

"This strategy allows us to reinstate our commitment to returning the company to its core principles, products and consumer while carrying out our mission of creating healthy food for the world in 2025 and beyond."

For more information on Atlantic Natural Foods or its products, please visit www.atlanticnaturalfoods.com 

About Atlantic Natural Foods
Headquartered in Nashville, NC, Atlantic Natural Foods is the leading shelf stable manufacturer and provider of Loma Linda®, TUNO™, neat® and Kaffree Roma™ brand products. Its mission is to provide affordable, sustainable and healthy sources of plant-based protein food for all lifestyles and people to live healthier, longer lives. The company operates its own manufacturing facility as well as a joint venture project in Thailand. The brands are sold throughout the U.S and in 30 countries, including the U.K., EU, Korea, South Africa, and Australia. To learn more about Atlantic Natural Foods, please visit www.atlanticnaturalfoods.com or follow the brand in Facebook, Instagram or Twitter. 

Media Contact:
Lindsay Anthony
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SOURCE Atlantic Natural Foods