The end of the alternative proteins gold rush has claimed another victim with one of the pioneers in the space, ProForm, the makers of “Meet” being placed in voluntary administration, despite the backing of billionaire Andrew Forrest.
KPMG Australia’s Gayle Dickerson and James Dampney were appointed voluntary administrators of Proform Food Group Pty Ltd and three related subsidiaries on May 22. The first meeting of creditors is being held today, May 30, in Sydney.
ProForm Foods is run by former Olympic medals-winning swimmer Matt Dunn. His father and Vogel Cereals founder Stephen Dunn, established the business in 2008, having developed the product with support from CSIRO. ProForm’s best known for the Meet brand, as well as Protein Plate, and Bad Hunter.
Production and trading continues under KPMG and MEET’s plant-based faux beef mince and burgers, and ‘chicken-free” tenders remain on supermarket shelves.
Fortescue boss Andrew Forrest backed Sydney plant-based proteins company in 2021 via Tattarang’s agri-food venture Harvest Road in 2021 in a deal believed to be worth $5 million, amid ambitions for international growth.
The year before ProForm opened an $11 million manufacturing facility for plant-based…