Houlihan Lokey Advises Vegetarian Express

Houlihan Lokey is pleased to announce that Vegetarian Express Ltd., the UK’s plant-based category specialist, has been acquired by NVM Private Equity LLP (NVM) from Bridges Fund Management (Bridges). The transaction closed on 16 February 2024.

Founded in 1987 in Watford, Vegetarian Express is the UK’s only plant-based category specialist, supplying the highest chef-quality products and value-added services. Vegetarian Express is the gateway for premium plant-based products into UK foodservice, supplying a wide range of blue-chip customers.

The company provides a best-in-class range of products, including plant protein, grains, pulses, and spices. More than half of the sales are generated through its own Vegetarian Express brand, which is well regarded by the chef community. Strong ESG credentials have helped fuel the company’s growth, becoming the UK’s first foodservice business to achieve B Corp status in 2019.

Bridges specialises in sustainable and impact investing. It invests in businesses, properties, and social sector organisations, with a focus on four impact themes: health and well-being, education and skills, sustainable living, and underserved markets.

NVM is a generalist UK investor with more than 35 years of experience seeking investment opportunities across the UK.

Houlihan Lokey served as the exclusive corporate finance advisor to the shareholders of Vegetarian Express and assisted in negotiating key aspects of the transaction on their behalf. This deal represents another successful transaction for Houlihan Lokey in foodservice and food distribution after recently supporting HOFMANNs in a sale to Compass Group, Milk & More in a sale to Freshways, and Rhubarb Hospitality Collection a sale to Oak View Group. With more than 100 transactions announced since January 2022, Houlihan Lokey has reinforced its global leadership in the consumer space.