Proform Foods - Voluntary Administration

Proform Foods, a plant-based meat company headquartered in Sydney, along with certain other related companies, entered voluntary administration on 22 May.

Established in 2005 as an R&D business, the company is now led by former Olympic swimmer Matt Dunn and has grown into a globally-recognised pioneer in alternative, plant-based protein source and forming technology. Its MEET branded products are distributed through major supermarkets across Australia.

In December 2021, the company announced that Harvest Road, one of Australia’s leading diversified agri-food businesses, had made a strategic investment in the company that would accelerate the company’s next phase of growth and allow the company to expand its production facilities in Northern Sydney. Since that time, however, the demand for plant-based meat, as well as venture capitalists’ appetite to invest additional capital into the sector, has waned, making for difficult operating conditions.

Gayle Dickerson and James Dampney of KPMG were appointed as administrators.