AFT Holdings, Inc., today announced it has completed its acquisition of the Loma Linda™ and Worthington Foods shelf stable business, as it has made its final payment to purchase the 101-year-old plant based protein brand from the Kellogg Company.
“We are excited about our forthcoming product announcements in this area.”
Since 2014, AFT subsidiary Atlantic Natural Foods®, the leading U.S. producer of shelf stable plant based protein products, has successfully integrated and managed the Loma Linda™ and Worthington business along with Kaffree Roma, a coffee beverage alternative, and the collection of neat® gluten and soy-free nut based protein alternatives and the neat® egg line of vegan products.
AFT, a Louisiana-based investment group, saw the acquisition as an important cornerstone of its effort to position itself as a leader in the healthy living food space.
“We will continue to focus on revolutionizing healthy food alternatives by offering affordable, sustainable, creative, and exceptionally tasteful products for the North American consumer,” said AFT chairman J. Douglas Hines. “We are excited about our forthcoming product announcements in this area.”
Atlantic Natural Foods’ Loma Linda purchase completion follows its September announcement of a number of initiatives that will enhance its commitment toward its individuals and community, including an increase of all manufacturing employees, with entry level positions to $10.00/hour, a 33% increase over current minimum federal wage offered in the area. In addition to the wage increases, Atlantic Natural Foods will retain a complete benefit program, including comprehensive health insurance, paid vacation and holidays, and a 401K retirement program available for all employees.
Hines says the programs that have been created are without local, state or federal government assistance.
“Small business can and should lead this kind of socially responsible change,” Hines said. “We cannot rely on the government or selected loopholes.”
AFT manages a diverse portfolio, spanning the country and the globe. The company’s investments include its flagship operation, Atlantic Natural Foods, as well as the largest U.S. Flag tuna fleet of 12 Super Seiners in the Western Pacific, a tuna vessel support service group, property development in Tennessee, Hawaii, and Mandeville, La., a specialty food processor in Maine, technology in Seattle and UK-based Seedrs, which offered the world’s first fully regulated equity crowdfunding platform open to investors and entrepreneurs throughout Europe and soon to be in the U.S. Even a restaurant concept in Maui, Hawaii.
Hines credits his lifetime ties to the state of Louisiana, especially post-Hurricane Katrina, and the critical backing of the professional support companies and the individuals in the area, which stood by AFT, catalyzing its growth, including a 20-year relationship with “The Whitney Bank,” world class legal representation of “Baker-Donelson”, accounting services from its New Orleans CPA firm of Malcolm Dienes, Insurance for its entities from “The Chapman Group” in Baton Rouge and human resource services provided by “Netchex” in Mandeville, La.
“We rely on these partnerships in our state to ensure the future and effectiveness of thousands of jobs around the world,” Hines said. “Thanks to the forward-thinking of our critical support partners, AFT Holdings’ employees, management, and shareholders are developing a great future.”