Misha’s strategic acquisition of Vertage expands Misha’s into the dairy-free shredded and sliced cheese categories by leveraging its distribution and transportation partnership with Fresh Del Monte Produce Inc.
The deal comes just over a year after Misha’s trimmed its staff and could signal a rebound for the company.
Per the acquisition, Misha’s will expand its portfolio of spreadable plant-based cheese to include dairy-free shredded and sliced cheeses from Vertage’s non-dairy cheese product line.
Misha’s will leverages its partnership with Fresh Del Monte Produce Inc. for the produce provider’s logistics network and financing from QVT Financial.
Misha’s will have access to Del Monte’s production facilities and technology, in addition to Del Monte’s inland transportation and distribution capabilities managed by its Tricont Trucking and Logistics division to reach more regions.
“The Vertage acquisition expands our product portfolio and innovation capabilities, while Fresh Del Monte’s robust logistics network provides critical infrastructure to scale more efficiently. This combination reduces the financial and operational burden typically associated with retail expansion, allowing us to deliver high-quality products to more markets faster,” said Aaron Bullock, founder and CEO, Misha’s Foods, Inc.
Misha’s, in partnership with Del Monte’s distribution network, also will introduce new categories in 2025 that highlight convenience and clean label.
“In 2025, Misha’s plans to marry the two as we explore innovative plant-based applications for snacking beyond cheese. Leveraging our partnership with Fresh Del Monte, we are poised to bring to market a line of delicious and wholesome products that address new consumer needs and occasions,” Bullock elaborated.
Vertage’s CEO Tim Wildin will transition to CMO at Misha’s and lead the company’s marketing efforts.
Misha’s 2023 cutbacks helped prepare Vertage acquisition
In 2023, Misha’s capital challenges pushed the company to trim its staff “to focus on operational efficiency and prioritize our core strengths,” including product quality and retailer partnerships, Bullock said.
The company went from “30-some-odd employees” to three, a drastic move that helped the company stay profitable, according to Bullock in a previous interview.
“These decisions ensured we stayed capital-efficient and agile, which positioned us to identify and act on opportunities like the Vertage acquisition. It was a strategic move that aligned perfectly with our growth trajectory,” he added.
The company’s cutbacks last year served as critical lesson for Misha’s that allowed it to “maximize resources and prioritize investments that drive responsible growth,” Bullock said.
“This perspective has been invaluable as we integrate Vertage’s assets, ensuring we scale efficiently without compromising quality or innovation,” he added.
Bullock cites Vertage’s acquisition as a “pivotal moment” and remain competitive in the $77.8 billion and growing plant-based market.
Further, Misha’s investment from QVT Financial reflected the firm’s “belief in the long-term potential of the plant-based category,” Bullock added.
“The dairy-free cheese category remains a high-growth segment with strong consumer demand, and our expanded product portfolio positions us to capture more share in this category with an eye towards driving innovation in additional categories,” he said.
Vertage’s “complementary assets” with Misha’s existing capabilities, allows for Mishia’s to “lead in a category where demand for high-quality, plant-based options continues to grow,” Bullock said.
