Veganz Rebrands and Restructures, Shifting Focus to Innovative Food Technology

Veganz, a manufacturer of plant-based food products based in the Berlin area, is undergoing a significant transformation by selling its core business. The company will now operate under the name Planethic Group AG and has announced a comprehensive restructuring of its corporate framework.

During a recent shareholders' meeting, the decision to spin off key business divisions, including 'Mililk', 'Happy Cheeze', 'Peas on Earth', and the Veganz brand itself, was approved with overwhelming support. This strategic move is designed to allow the parent company to maintain majority control while inviting participation from strategic investors.

Jan Bredack, the founder and current CEO of Veganz, aims to reposition the company not as a traditional brand manufacturer but as a technology investment holding focused on innovative food concepts. He believes these changes will establish a foundation for accelerated growth.

A key highlight of this transition is the emphasis on the oat milk concentrate, Mililk, which the company reports has garnered significant interest from international food service chains, with pre-orders amounting to 160 million liters. With new capital, Veganz plans to expand production capacity, particularly in the United States, and is also considering an initial public offering (IPO) for Mililk Food Tech GmbH within the next two years.

However, this new direction signifies a departure from Veganz's retail focus. The Veganz brand, which previously featured around 20 products, is set to be sold in the mid-term. Until then, the product lineup, including bars, cookies, and gummy candies, will remain available, with plans for expansion over the next two years. The aim is to finalize a sale to a strategic buyer by 2030.

Since its IPO in 2021, Veganz's stock price has experienced a significant decline, dropping from EUR87 to approximately EUR15. The restructuring is intended to facilitate international growth, attract new investors, and steer the company toward profitability.