Strategic Consolidation: Fleury Michon Acquires Allplants to Spearhead UK Plant-Based Expansion

In a landmark deal for the European food industry, the French culinary powerhouse Fleury Michon has officially acquired Allplants, the high-profile British vegan meal brand previously held by Deliciously Ella founders Ella and Matthew Mills. The acquisition marks a pivotal moment in the ongoing transformation of the plant-based sector, signaling a shift from boutique, founder-led startups to integration within major, established multinational food groups.

For the Millses, this transaction represents their second major corporate exit in recent years, further cementing their status as architects of the modern plant-based consumer goods landscape. For Fleury Michon, the move provides an immediate, well-recognized platform to penetrate the competitive, yet highly lucrative, United Kingdom market for meat-free alternatives.

A Complex Corporate Chronology: The Evolution of Allplants

The journey of Allplants has been anything but conventional. The brand’s identity has been forged through a series of acquisitions, pivots, and strategic rebrandings.

The Origins

The original Allplants entity was founded in 2016 by entrepreneurs Alex and Jonathan Petrides. The startup gained rapid momentum during the pandemic-era surge in direct-to-consumer and frozen meal consumption. However, the post-pandemic climate proved hostile. A confluence of global economic headwinds—including rampant inflation, the logistical nightmares of post-Brexit supply chains, and rising interest rates—pushed the company into administration in 2024.

The "Deliciously Ella" Intervention

Sensing an opportunity to reclaim a brand with significant digital equity and a loyal customer base of nearly 200,000 followers, Ella and Matthew Mills moved to acquire the brand name and core assets in early 2025. This move was part of a larger strategy to expand their own plant-based footprint. Having already established their own sub-brand, "Plants," in partnership with Waitrose, the couple rebranded their venture as Allplants, effectively supercharging their product range to include everything from frozen ready meals to artisanal pasta and protein-packed snacks.

The Fairoak Integration

The growth trajectory took a vertical turn in May 2026, when Matthew Mills executed the purchase of Fairoak Foods out of administration. This acquisition was not merely about product; it was about infrastructure. By securing a 6,700-square-foot factory in Surrey, the brand successfully brought its manufacturing in-house, securing 60 jobs and creating the production capacity required to scale for a larger market.

Supporting Data: Navigating the "Freezer" Paradox

The acquisition comes at a time of deep market correction within the alternative protein sector. While consumer interest in plant-based diets remains robust, the market for "meat-free" frozen goods has faced significant friction.

According to data analyzed by One Planet Pizza, the UK frozen ready meal market is experiencing growth of approximately 9.2%. However, the meat-free segment within that category has suffered a decline of 9.6%. This disparity creates an intriguing "freezer paradox."

"Chilled meat-free meals are currently reaching 30.6% of households, compared to only 17.8% for frozen options," notes Joe Hill, co-founder of One Planet Pizza. "This suggests a massive, untapped opportunity for brands like Allplants to bridge the gap between convenience and quality, giving shoppers a compelling reason to reach for a plant-based meal in the freezer aisle."

Fleury Michon enters this landscape with a cautious but calculated strategy. Allplants currently accounts for less than 1% of the French giant’s total revenue, but the brand’s current annual turnover of approximately €5 million ($5.6 million) positions it as a lean, agile springboard. Significantly, the brand is reported to be nearing an EBITDA break-even point—a rare and desirable characteristic for a high-growth plant-based venture in the current climate.

Official Perspectives: A Shared Vision for the Future

The transition of ownership has been framed as a natural progression for the brand. Both the founders and the new ownership have emphasized continuity, ensuring that the brand’s identity remains intact while gaining the resources of a larger parent organization.

Ella Mills, who will transition into the role of Brand Ambassador, shared her sentiments via an Instagram announcement: "What started as a small idea—something we talked about around the kitchen table—has grown into a much-loved brand on supermarket shelves. We’ve sold millions of products and helped show that natural, plant-based food is an exciting space. Today marks a new chapter."

Kerry Atack, the Managing Director of Allplants, will remain in her leadership position under the new regime. She expressed optimism regarding the synergy between the two entities: "Our shared ambition to make healthy, natural food accessible will supercharge Allplants’ growth. We are eager to leverage Fleury Michon’s expertise in innovative, all-natural, vegetable-led ranges to bring new products to the UK market."

From the French perspective, the acquisition is a strategic bridge. Fleury Michon, founded in 1905 and listed on the Euronext Paris exchange, reported a turnover exceeding €836 million ($941 million) in 2025. With a workforce of over 3,200, the company is looking to replicate its domestic success—specifically its innovative legume-based deli slices and "matchstick" products—within the more mature UK plant-based market.

"In France, our groundbreaking veggie range has brought exceptional incremental growth," stated Xavier Labelle, Managing Director of Fleury Michon’s commerce and development division. "The UK market is more developed than our own in terms of consumer adoption, making it the ideal arena for our international expansion."

Implications: The New Era of Consolidation

The sale of Allplants to Fleury Michon is far from an isolated incident; it is a bellwether for the wider alternative protein industry. Since September 2024, the sector has seen an aggressive wave of consolidation, with over 90 firms either merging, being acquired, or entering insolvency.

1. The Shift to "Big Food"

The era of independent vegan startups acting as disruptive lone wolves is waning. Large-scale incumbents, like Fleury Michon, are increasingly opting to buy innovation rather than build it from scratch. By acquiring Allplants, Fleury Michon bypasses years of R&D and consumer trust-building, inheriting a brand that has already weathered the "valley of death" associated with early-stage growth.

2. Operational Efficiency

The inclusion of the Fairoak factory in the deal highlights a critical lesson for the industry: profitability is tied to supply chain control. Startups that rely on co-packers often find themselves vulnerable to price volatility. By integrating manufacturing, Allplants has made itself a much more attractive asset to a manufacturing-heavy company like Fleury Michon.

3. The Future of the UK Market

The UK remains one of the world’s most sophisticated markets for meat-free alternatives. By injecting capital and industrial expertise into the Allplants platform, Fleury Michon is signaling that it intends to challenge established UK players. The success of this move will depend on whether the company can successfully translate the "French culinary experience"—often focused on natural, whole-food ingredients—into a category that has, until now, been dominated by highly processed meat analogs.

4. A Template for Founders

The path taken by Ella and Matthew Mills serves as a potential blueprint for other entrepreneurs in the food tech space. By focusing on building a strong, identifiable brand identity and proving a path to profitability, they have demonstrated that an exit is not a failure of vision, but a validation of the brand’s long-term utility in a crowded, competitive, and constantly evolving global marketplace.

As Allplants begins this new chapter, the industry will be watching closely to see if the combination of French manufacturing prowess and British brand agility can successfully reinvigorate the frozen meat-free segment, proving that the future of food is as much about scale as it is about sustainability.