Ahimsa Companies Snaps Up Blackbird Foods
Private equity firm Ahimsa Companies is growing its portfolio of plant-based food brands.
The company announced on Friday it has acquired frozen pizza and wings purveyor Blackbird Foods. Financial terms of the deal were not disclosed.
In a statement, Blackbird Foods co-founder Mike Pease said the brand will leverage Ahimsa’s expertise to enhance its distribution and manufacturing capabilities. Blackbird will continue to operate under its existing identity as part of the deal.
“We are eager to tap into Ahimsa’s extensive knowledge to strengthen Blackbird’s presence in the frozen aisle. With their support, we have ambitious plans for growth and exciting product innovations on the horizon,” said Pease.
New York-based Blackbird was founded in 2020 as a collaboration between Pease’s partners at Terri restaurants and the team behind Blackbird Pizza in Philadelphia. The brand produces a range of frozen pizzas, seitan-based “wings” and seitan available at more than 3,000 retailers nationwide as of 2023, including Target, Sprouts and Whole Foods Market.
The brand previously told Nosh its strategy is focused on scaling up through self-manufacturing while making inroads with conventional retailers through partnerships with other plant-based meat companies and maintaining revenue through an existing base of over 350 foodservice accounts.
Last year, Blackbird raised $126,000 in a crowdfunding round on Start Engine to fuel its growth in manufacturing and distributing. Previously, the company raised over $2.25 million in a seed round led by Lever VC in March 2021. It added another $250,000 in a crowdfunding round in September 2023.
The global vegan frozen pizza market is expected to grow at a CAGR of 9.3%, reaching a valuation of $1.9 billion by 2033, according to market researcher Future Market Insights. Major players in the space include Daiya, Amy’s and Wicked Kitchen – which Ahimsa snapped up in June.
The transaction marks Ahimsa’s third acquisition since its inception just last year, accelerating its industry-wide consolidation efforts. Upon acquiring Wicked Kitchen (which also included Good Catch and Current Foods), CEO Matt Tullman said Ahimsa is focused on bringing brands together to “help stabilize and shape the new landscape for the plant-based industry.”
Ahimsa’s portfolio also includes NUGGS parent company Simulate, which it purchased in October via a combination of cash and equity at an undisclosed valuation. The brand’s plant-based chicken breast, tenders, and nuggs are available at retailers like Walmart, Target and Whole Foods.
“Ahimsa shares our passion for plant-based innovation and animal-free food production. Together, we will continue to push the boundaries of what’s possible in plant-based cuisine,” said Blackbird co-founder Emanuel Storch in a statement.
