Jay&Joy's Bold Move: A New Era for Vegan Cheese in Europe
February 6, 2025, 12:09 pm
In the bustling world of plant-based foods, change is the only constant. Recently, French vegan cheese maker Jay&Joy made headlines by acquiring its rival, Les Nouveaux Affineurs, and securing a €2 million investment. This strategic move is not just a merger; it’s a bold leap into the future of dairy-free cheese in Europe.
Jay&Joy, based in Paris, has been a pioneer in the vegan cheese sector since its inception a decade ago. The company once basked in the glow of success, with its products gracing the shelves of 1,900 stores across France and beyond. However, the road has been rocky. In early 2023, the company faced a significant setback when production was halted due to listeriosis concerns linked to its cheeses. This crisis forced Jay&Joy into receivership, a dark cloud that threatened its very existence.
But like a phoenix rising from the ashes, Jay&Joy was rescued by an investment consortium led by César Augier, a former sustainability associate at McKinsey. Under his leadership, the company quickly regained its footing, revitalizing production and reestablishing distribution channels. By the end of 2024, revenues surged by an impressive 90%. This resurgence set the stage for the recent acquisition of Les Nouveaux Affineurs, a company that had also faced its share of challenges.
Les Nouveaux Affineurs, another Parisian startup, had struggled in 2024, leading to halted production. The merger was born out of necessity and shared values. Both companies recognized the potential for collaboration over competition. This partnership is more than just a business deal; it’s a union of visions aimed at accelerating the growth of plant-based foods in Europe.
The acquisition doubles Jay&Joy’s production capacity, adding a new facility in Ivry-sur-Seine to its existing site in Lacroix-Saint-Ouen. This expansion is crucial in a market where demand for vegan cheese is on the rise. With the merger, Jay&Joy’s product range will expand from seven to 15 offerings, including innovative cheeses like L’Affiné d’Albert and La Bûche. This diversification is essential in a crowded market dominated by established players like Violife and Sheese.
In the world of vegan cheese, taste and texture are paramount. Many consumers have been disappointed by the offerings from major brands, which often fail to deliver on flavor. Jay&Joy aims to change that narrative. The company plans to launch four new products this year, including a mozzarella designed specifically for food service. This move aligns with the growing demand for plant-based options in restaurants and hotels, where sustainability is becoming a key focus.
The €2 million investment will fuel this ambitious expansion. Backed by existing investors, including the Demeter and Beyond Impact funds, the funding will support the integration of operations and accelerate international growth. The goal is clear: to establish Jay&Joy as a leading player in the European plant-based market.
The merger also brings a wealth of expertise to Jay&Joy. Nour Akbaraly, the founder of Les Nouveaux Affineurs, will step into the role of Chief Technology Officer and Chief Operating Officer. His experience in industrial optimization and plant fermentation will be invaluable as the company seeks to enhance its production processes and product quality.
As the plant-based sector continues to evolve, mergers and acquisitions are becoming increasingly common. The landscape is shifting, with companies recognizing the need to join forces to survive and thrive. Recent examples include the acquisition of the Dutch brand Willicroft and the US-based Vertage Foods by Misha’s Inc. These moves highlight the competitive nature of the market and the necessity for innovation.
Jay&Joy’s acquisition is a testament to the resilience of the plant-based industry. It reflects a growing consumer demand for high-quality, dairy-free alternatives. Non-dairy cheese currently accounts for 3.6% of Europe’s plant-based market, with sales in France alone growing by 34%. This upward trajectory presents a significant opportunity for companies willing to invest in quality and innovation.
However, the path ahead is not without challenges. The market is crowded, and consumer expectations are high. Jay&Joy must navigate these waters carefully, ensuring that its products not only meet but exceed expectations. The integration of Les Nouveaux Affineurs is a crucial step in this journey, allowing Jay&Joy to leverage combined resources and expertise.
In conclusion, Jay&Joy’s acquisition of Les Nouveaux Affineurs marks a pivotal moment in the European plant-based cheese landscape. It’s a bold move that signals ambition and resilience. As the company embarks on this new chapter, it aims to create a genuine French champion in the plant-based sector. With a commitment to quality and innovation, Jay&Joy is poised to make waves in the dairy-free market, transforming how consumers perceive and enjoy cheese. The future looks bright for this vegan cheese powerhouse, and the journey has only just begun.
Jay&Joy, based in Paris, has been a pioneer in the vegan cheese sector since its inception a decade ago. The company once basked in the glow of success, with its products gracing the shelves of 1,900 stores across France and beyond. However, the road has been rocky. In early 2023, the company faced a significant setback when production was halted due to listeriosis concerns linked to its cheeses. This crisis forced Jay&Joy into receivership, a dark cloud that threatened its very existence.
But like a phoenix rising from the ashes, Jay&Joy was rescued by an investment consortium led by César Augier, a former sustainability associate at McKinsey. Under his leadership, the company quickly regained its footing, revitalizing production and reestablishing distribution channels. By the end of 2024, revenues surged by an impressive 90%. This resurgence set the stage for the recent acquisition of Les Nouveaux Affineurs, a company that had also faced its share of challenges.
Les Nouveaux Affineurs, another Parisian startup, had struggled in 2024, leading to halted production. The merger was born out of necessity and shared values. Both companies recognized the potential for collaboration over competition. This partnership is more than just a business deal; it’s a union of visions aimed at accelerating the growth of plant-based foods in Europe.
The acquisition doubles Jay&Joy’s production capacity, adding a new facility in Ivry-sur-Seine to its existing site in Lacroix-Saint-Ouen. This expansion is crucial in a market where demand for vegan cheese is on the rise. With the merger, Jay&Joy’s product range will expand from seven to 15 offerings, including innovative cheeses like L’Affiné d’Albert and La Bûche. This diversification is essential in a crowded market dominated by established players like Violife and Sheese.
In the world of vegan cheese, taste and texture are paramount. Many consumers have been disappointed by the offerings from major brands, which often fail to deliver on flavor. Jay&Joy aims to change that narrative. The company plans to launch four new products this year, including a mozzarella designed specifically for food service. This move aligns with the growing demand for plant-based options in restaurants and hotels, where sustainability is becoming a key focus.
The €2 million investment will fuel this ambitious expansion. Backed by existing investors, including the Demeter and Beyond Impact funds, the funding will support the integration of operations and accelerate international growth. The goal is clear: to establish Jay&Joy as a leading player in the European plant-based market.
The merger also brings a wealth of expertise to Jay&Joy. Nour Akbaraly, the founder of Les Nouveaux Affineurs, will step into the role of Chief Technology Officer and Chief Operating Officer. His experience in industrial optimization and plant fermentation will be invaluable as the company seeks to enhance its production processes and product quality.
As the plant-based sector continues to evolve, mergers and acquisitions are becoming increasingly common. The landscape is shifting, with companies recognizing the need to join forces to survive and thrive. Recent examples include the acquisition of the Dutch brand Willicroft and the US-based Vertage Foods by Misha’s Inc. These moves highlight the competitive nature of the market and the necessity for innovation.
Jay&Joy’s acquisition is a testament to the resilience of the plant-based industry. It reflects a growing consumer demand for high-quality, dairy-free alternatives. Non-dairy cheese currently accounts for 3.6% of Europe’s plant-based market, with sales in France alone growing by 34%. This upward trajectory presents a significant opportunity for companies willing to invest in quality and innovation.
However, the path ahead is not without challenges. The market is crowded, and consumer expectations are high. Jay&Joy must navigate these waters carefully, ensuring that its products not only meet but exceed expectations. The integration of Les Nouveaux Affineurs is a crucial step in this journey, allowing Jay&Joy to leverage combined resources and expertise.
In conclusion, Jay&Joy’s acquisition of Les Nouveaux Affineurs marks a pivotal moment in the European plant-based cheese landscape. It’s a bold move that signals ambition and resilience. As the company embarks on this new chapter, it aims to create a genuine French champion in the plant-based sector. With a commitment to quality and innovation, Jay&Joy is poised to make waves in the dairy-free market, transforming how consumers perceive and enjoy cheese. The future looks bright for this vegan cheese powerhouse, and the journey has only just begun.