Arivia manufactures and sells dairy-free cheese, primarily distributing under the market-leading Violife brand. Operating in the high-growth and exciting plant-based space, Arivia produces a range of cheese flavours across several product formats with the UK and USA as their key markets.
Food Strategy Associates were appointed by a private equity fund participating in the process to provide commercial due diligence for this acquisition.
Our work centred on three core markets – the current core markets of the UK and US and also Germany, a market with high potential and a growing plant-based culture. We carried out scan data, product, retail and brand analysis. To support our assessment, we commissioned consumer taste tests, an expert sensory test and a usage & attitudes survey (across all three markets). We visited the manufacturing facility in Greece, interviewing management and utilising our technical specialist to conduct a technical assessment to assess the IP in the business and the barriers to technical replication. We interviewed industry participants across UK, USA and Germany.
Ultimately our client did not pursue the acquisition of the target.