Maggie Beer-branded plant-based meals are heading to Coles

Coming in mid-October 2020 to a Coles near you will be pre-prepared plant-based meals from food small cap Maggie Beer Holdings (ASX:MBH).

The company, named after its flagship brand and the celebrity chef who started it, already sells plant-based meals via independent supermarkets and its website.

Products include creamy coconut curry, eggplant and cannellini bean caponata, and “Boston Style” smoky beans.

But in a few months the range will be sold in about 400 Coles (ASX:COL) stores.

Maggie Beer shares have seen a solid run in recent weeks with strong financials and fund manager Michael Wilson becoming a substantial holder. The company gained another 16 per cent this morning.

Maggie Beer (ASX:MBH) share price chart

Plant-based product growth on the cards

While Maggie Beer sold her stake in the company last year, she remains a brand ambassador and will work with current management on a sales and marketing plan.

This will include video clips of her with serving suggestions that will be shared on the digital channels of Maggie Beer & Coles.

CEO Chantele Millard said consumers already knew what to expect with non-plant based Maggie Beer products and it would be the same with these products.

“People know that when they buy a product from Maggie Beer Products, it is going to taste great and contain quality Australian ingredients,” she said.

“Our better-for-you plant-based meals fulfil the growing need for people to have flavoursome, nutritional food that is also convenient and fits their busy lifestyles.”

Millard added that the company was planning on extending its range further in the plant-based market, which she described as very large and fast growing.

Beer herself echoed these comments noting the deal with Coles will allow consumers to enjoy “a convenient, nutritionally balanced and great tasting meal from my family to theirs”.

“I’ve come to celebrate plant protein as the way I want to eat much of the time, whether I cook from scratch or have these in my fridge for when time is of the essence,” she added.