Benzinga | Jan 25, 2021 11:02AM EST

Post Holdings Reports Partnership With Plant-Based Meat Co., Hungry Planet

Post Holdings, Inc. (NYSE:POST), a consumer packaged goods holding company, today announced a partnership with Hungry Planet(r) Inc., a plant-based meat company. In this new partnership, Post's Foodservice and Refrigerated Retail units will work closely with Hungry Planet to expand the distribution of Hungry Planet's industry-leading range of plant-based meats to address the rapidly growing demand for alternative protein solutions across all meal occasions.

Hungry Planet produces a full range of chef-crafted plant-based meats that match the taste and texture of conventional meat, and offer a superior nutritional profile. These proteins provide a sustainable food alternative to traditional meat products. Based in St. Louis, Hungry Planet meats are distributed throughout the United States via foodservice, restaurants, grocery stores and ecommerce.

"Demand for plant-based meats is growing. We are excited to announce this partnership with Hungry Planet and to continue to offer more innovative product options to our customers," said Mark Westphal, President of Post subsidiary, Michael Foods.

"Our products make it easy to swap plant-based meat in for conventional meat in any cuisine, with any flavor and across all proteins without compromise," said Todd Boyman, CEO and Co-Founder of Hungry Planet. "This new partnership will accelerate delivery of our products to more points of distribution and help keep pace with demand and reach millions more consumers."

In connection with the partnership, Post Holdings is also making a financial investment in Hungry Planet to support the company's future growth.

The Hungry Planet partnership is Post's second announcement in the sustainable food product category. In May 2020 Michael Foods, Post's Foodservice organization, announced an agreement to manufacture and distribute JUST Egg to foodservice and food ingredient customers.