JSE-Listed Firms Are Making Veganism Fashionable In SA

Is the idea of eliminating all animal products from one’s diet about to rapidly become mainstream in South Africa?

This article explores if South Africa’s biggest food companies are embracing veganism.

People love meat products, dietary change can be challenging, and switching to a vegan diet isn’t always easy given that cultural and socio-economic factors can affect plant-based food accessibility.

However, it appears flexitarians, part-time vegetarianism, or veganism, is becoming more and more popular in South Africa.

Young South African women – who want a healthy lifestyle – seem to be driving the growth of the vegan movement.

Veganism — which entails cutting out all meat and animal-derived products, such as dairy, eggs and honey — is slowly growing globally. A Google Trends report puts South Africa at 14th globally in searches for “vegan,” the only African nation to rank so high. For more read: Meet the Afri-Vegans: South Africa Slowly Embracing Veganism

South Africa’s JSE-listed Famous Brands, the owners of Steers, announced today that it had acquired 51% of Lexi’s Healthy Eatery, whose slogan is “Eat more plants”. Lexi’s Healthy Eatery is a mostly vegan, whole-food restaurant.

The JSE-listed company said its acquisition of Lexi’s Healthy Eatery is effective 1 April.

Lexi’s Healthy Eatery is a casual dining restaurant (CDR) brand, offering a full-service, sit-down, plant-based dining experience across all key day parts: breakfast, lunch and

 dinner.

The acquisition pertains to the franchise and central kitchen operations of the business.

The acquisition is aligned with Famous Brands’ three-year strategic roadmap, which includes acquiring brands that have the potential to lead in their category, and which offer growth prospects based on opportunities to improve existing operational efficiencies in the target business.

Famous Brands’ existing portfolio does not include an exclusively vegetarian or plant-based offering, and as a forerunner in its category, Lexi’s is a good fit for the group.

For more read: Steers Owner Famous Brands Wants You To “Eat More Plants” After Buying Lexi’s Healthy Eatery

Meanwhile, JSE-listed Tiger Brands announced on Monday that Tiger Brands Venture Capital Fund had made its first investment in Herbivore Earthfoods, a Cape Town-based business specialising in manufacturing and selling plant-based and vegan products. Tiger Brands is South Africa’s biggest food producer.

Herbivore Earthfoods supplies major retailers across South Africa and sells directly to

 consumers through its online platform.

Investment in Herbivore Earthfoods is closely aligned to Tiger Brands’ health and nutrition strategy.

Together with co-investor Secha Capital, an early-stage impact private equity firm, the Tiger Brands Venture Capital Fund has become a minority shareholder in the business.

Herbivore Earthfoods is co-run by Founders Chanel Grantham and Davey du Plessis, Operations Head.

Tiger Brands’ involvement will include strategic guidance and leveraging the Group’s route-to-market capabilities and research and development expertise.

For more read: Tiger Brands’ Venture Capital Fund Makes First Investment In Herbivore Earthfoods