Wide Open Agriculture (WOA) announced it will sell its regenerative food brand Dirty Clean Food to former company leader Jay Albany, who will step down as CEO.
Dirty Clean Food (DCF) sells regeneratively grown produce and meat to individual consumers online as well as to wholesalers, retailers and restaurants. WOA describes the move as the “final step in its transition to become a fully integrated plant-based protein ingredients company” and reflects the brand’s commitment to focusing solely on its flagship Buntine Protein product.
A Memorandum of Understanding (MoU) signed between WOA and Albany proposes that DCF will be sold to the former CEO for $1.5m. As part of the transaction, Albany will step down from his role as CEO effective immediately, with Mr. Matthew Skinner – the current CFO of WOA – taking the helm as Interim CEO.
WOA said that it will also begin an external search for Albany’s long-term replacement.
WOA’s Chairman, Anthony Maslin said: “After an extensive period engaging with potential buyers, it became clear that Jay is the right person to take DCF into the next chapter. His passion for the business is unparalleled and his experience in delivering in this area is proven both in DCF but also previously in New York City with Max Delivery.
“We also believe he is the right person to take DCF into profitability, which in turn will continue the development and promotion of regenerative agriculture in Western Australia.”
Albany said: “I’m very appreciative to WOA’s Board of Directors for the opportunity to lead the company over the last 15 months. I’m proud of the progress made in our lupin business to advance a capex light pathway to commercialisation, while building an elite global network of prospects and partners.
“WOA is in great hands with CEO Matthew Skinner and COO Miranda Stamps leading the commercial path forward for our groundbreaking lupin protein program.”
WOA said in a statement that it will focus its resources on researching, manufacturing and supplying lupin-based ingredients to global food manufacturers. It describes its Buntine Protein as a more sustainable and adaptable alternative to traditional soy and pea proteins.
WOA also said that production of Buntine Protein has started in the German operations that it purchased last year.
Interim CEO Matthew Skinner said: “The decision to sell the operations of DCF, a venture that generated revenue exceeding A$11 million in FY23, underscores our confidence in the enormous potential of Buntine Protein. This shift allows us to transform into a more streamlined and focused entity, singularly dedicated to one ambitious goal – to replace all traditional plant-based proteins with Buntine Protein.”
WOA became the world’s largest producer of lupin protein late last year after acquiring Germany-based company Prolupin GmbH.
To stay up-to-date on the latest industry headlines, sign up to Future Alternative’s enewsletter.
Posted on: