Food Strategy Associates is pleased to have provided buy-side commercial due diligence to Novo Holdings on the successful investment in Matr Foods, a plant-based meat alternative player based in Copenhagen. EIFO and Novo Holdings have co-led this €40m fundraise for Matr Foods, together with European Investment Bank (EIB)
Established in Copenhagen in 2021, Matr Foods specialises in developing organic innovative plant-based meat alternatives using traditional fungal fermentation techniques. Locally sourced organic ingredients are transformed into patties and mince products, offering a nutritious and sustainable alternative without additives or heavy processing. The new financing will enable Matr Foods to scale up its production capacity in order to meet a growing demand from both existing and new customers.
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.
“Food Strategy Associates were instrumental to our investment decision,” said Thomas Grotkjær, Partner at Planetary Health Investments from Novo Holdings “Their commercial due diligence was thorough, insightful, and clearly grounded in deep industry understanding. The team combined strategic perspective with practical analysis and benchmarks, helping us identify both opportunities and risks with precision. Their work gave us real confidence in the business’ potential and added significant value to the overall process.”
Food Strategy Associates continues to lead the field in plant-based due diligence. Our differentiating deep sector expertise ensures focus on the value of new technologies such as Matr Foods, coupled with an understanding of consumer trends and business scale-up. This engagement further strengthens our position as a leading provider of commercial due diligence services to the European food and beverage sector
Notes to Editors
Food Strategy Associates is a leading European strategy consultancy focused exclusively on the food and beverage industry. Founded in 2013 by two former food industry executives, we combine the first-hand knowledge of highly experienced industry executives with strategy consultants, to deliver a unique and unrivalled proposition to our clients.
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For further information please contact Robert Lawson on robert@foodstrategy.co.uk