Bel Group has agreed to acquire an 80% stake in French start-up company All in Foods to diversify into plant-based foods.

The founding family of All In Foods will retain the remaining 20% stake.

Neither company has divulged any financial details.

Established in 2013 in Saint-Nazaire in France’s Loire Atlantique region, All in Foods produces a wide range of plant-based cheese alternatives. Its goods are available as slices, blocks, bloomy rind, grated and as spreads, as well as plant-based sauces.

The company sells its products under the Nature & Moi brand and distributes them to hypermarkets, supermarkets and foodservice industries in France and global markets.

All In Foods founder Bertrand Jouault said: “The All In Foods story is one of passion and family. We share common values with the Bel Group and the belief that plant-based foods offer enormous possibilities for our food of tomorrow.”

Bel Group said that the acquisition forms part of its strategy to expand its activities beyond cheese products and improve its position in the healthy snack market.

The company will self-finance the transaction, which it expects to close in May.

Bel Group chairman and CEO Antoine Fievet said: “The Bel Group has enhanced its entry into the plant-based era and confirms its strong ambitions.

“We continue to diversify our product offering to meet new consumer expectations and we are guided by our mission to champion healthier and responsible food for all. We believe in the excellence and potential that All in Foods has to offer, to meet the challenge for more sustainable food.”

In October 2016, Bel Group and MOM Group’s management team signed an agreement with LBO France to acquire the MOM Group.