Wicked Kitchen Buys Plant-based Seafood Startup
Minneapolis-based food company Wicked Kitchen has added another plant-based protein company to its portfolio.
On Monday, Wicked Kitchen announced that it has acquired California-based plant-based seafood startup Current Foods for an undisclosed sum. Current Foods’ lineup includes “plant-based sushi-grade tuna and salmon.”
Wicked Kitchen, which markets a range of “animal-free” products, first dipped its toe into seafood market last year, when it acquired Good Catch. That company also sells plant-based seafood products.
Pete Speranza, Wicked Kitchen’s CEO, believes that consolidation is ultimately a positive – and perhaps inevitable – thing for the plant-based industry.
“Investors’ expectations and appetite have outpaced the growth of the category so we need some consolidation to open up shelf space and allow fewer brands to create sustainable businesses in the plant-based sector,” he said in an email. “This would help consumer confusion and build stronger brand loyalty.”
Speranza noted that Wicked Kitchen’s investors had suggested acquiring Current Foods.
Wicked Kitchen, which received an investment from actor Woody Harrelson last year, doesn’t have any other immediate acquisition targets on the horizon, but Speranza remains open. His long-term goal is to create a “one-stop shop for culinary plant-based food.”
Founded in the United Kingdom in 2018, Wicked Kitchen launched its U.S. operation in Minnesota in 2021. The company employs 38 people total and operates 28 co-manufacturing sites, though none are in Minnesota.
