{"id":307107,"date":"2025-11-20T21:42:46","date_gmt":"2025-11-20T21:42:46","guid":{"rendered":"https:\/\/peraltafinancing.com\/activist\/miyokos-melt-down-prosperity-foods-makers-of-melt-put-in-winning-bid\/"},"modified":"2025-11-20T21:42:46","modified_gmt":"2025-11-20T21:42:46","slug":"miyokos-melt-down-prosperity-foods-makers-of-melt-put-in-winning-bid","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=307107","title":{"rendered":"Miyoko’s Melt-down: Prosperity Foods, makers of Melt, put in winning bid"},"content":{"rendered":"


\n<\/p>\n

\n
\"Miyoko<\/p>\n

\"Miyoko<\/p>\n

<\/a> (Beth Clifton collage)<\/strong><\/em><\/div>\n

Can former Idaho Bike Coalition president Scott Fischer pedal Miyoko\u2019s Creamery back to the top of the plant-based heap?<\/em><\/span><\/h2>\n

BOISE, Idaho\u2013\u2013<\/strong>Eight days after Miyoko\u2019s Creamery founder Miyoko Schinner,\u00a0 68,\u00a0 \u00a0lamented in a YouTube video that she did not win back control of the insolvent company with a last-minute crowd-funded bid,\u00a0 Prosperity Foods chief executive Scott Fischer,\u00a0 65,\u00a0 disclosed that he was \u201csurprised and delighted\u201d that his company,\u00a0 makers of Melt vegan butter,\u00a0 was the winning bidder for the Miyoko\u2019s Creamery assets.<\/p>\n

Those assets chiefly consist of the brand name,\u00a0 the trademark,\u00a0 and a variety of recipes and formulations,\u00a0 but apparently do not include the good will of Miyoko Schinner herself.<\/p>\n

\"Satish<\/p>\n

\"Satish<\/p>\n

<\/a> Satish Karandikar.\u00a0 (Beth Clifton collage)<\/strong><\/em><\/div>\n

No sign of Satish Karandikar<\/h2>\n

Vegan tycoon Satish Karandikar,\u00a0 62,\u00a0 heading the Ahimsa Foundation of Nimot,\u00a0 Colorado,\u00a0 and Ahimsa Companies,\u00a0 of New York City,\u00a0 was nowhere in sight when the news of the Miyoko\u2019s Creamery auction outcome broke.<\/p>\n

Karandikar,\u00a0 having reportedly already acquired the plant-based food companies Wicked Kitchen, Simulate (Nuggs), \u00a0and Blackbird Foods,\u00a0 was widely believed to be the front runner among multiple contenders to acquire Miyoko\u2019s Creamery.<\/p>\n

After only eleven years in business,\u00a0 Miyoko\u2019s Creamery had already become arguably the best-recognized name in the vegan food business,\u00a0 largely due to the charisma of vegan chef and television personality Miyoko Schinner herself.<\/p>\n

Despite that,\u00a0 however,\u00a0 Miyoko\u2019s Creamery was reportedly already in financial trouble even before Schinner herself got the boot in 2023.<\/p>\n

Miyoko\u2019s Creamery failed further after her exit in a hostile takeover,\u00a0 and hit the auction block on October 7,\u00a0 2024 in an Assignment for the Benefit of Creditors auction,\u00a0 equivalent to a Chapter 7 bankruptcy proceeding.<\/p>\n

\"Scott<\/p>\n

\"Scott<\/p>\n

<\/a> (Beth Clifton collage)<\/strong><\/em><\/div>\n

Fischer had uphill struggle to keep Melt from melting<\/h2>\n

The circumstances are similar to those afflicting Melt Organic,\u00a0 founded in 2011,\u00a0 when Fischer took over as chief executive in 2018 after Melt had suffered a 30% sales decline.<\/p>\n

Wrote Elaine Watson for AgFunder News,\u00a0 \u201c<\/em>The immediate priority [for Fischer] is minimizing disruption to the supply chain for the [Miyoko\u2019s Creamery] products, \u00a0which are produced by copackers,\u201d\u00a0 the previous owners of Miyoko\u2019s Creamery having closed her factory in Petaluma,\u00a0 California.<\/p>\n

Fischer told Watson that he sees distinct audiences for the Melt Organic and Miyoko\u2019s Creamery brands.<\/p>\n

\"Miyoko<\/p>\n

\"Miyoko<\/p>\n

<\/a> (Beth Clifton collage)<\/strong><\/em><\/div>\n

No nuts<\/h2>\n

One of those differences is that while the Miyoko\u2019s Creamery plant-based cheeses are heavily based on nuts,\u00a0 including cashews and almonds,\u00a0 Melt Organic products do not include what the company web site describes as \u201ccommon allergens like soy, \u00a0nuts, \u00a0and gluten.\u201d<\/p>\n

\u201cWe are the two premium plant butter brands in the category, \u00a0without a doubt,\u201d\u00a0 Fischer said.\u00a0 Despite the differences in product formulation,\u00a0 Fischer offered,\u00a0 \u201cThere are so many parts about the two brands that are compatible.\u201d<\/p>\n

\u201cThe issue at Miyoko\u2019s Creamery,\u201d\u00a0 Fischer continued to Watson, \u00a0\u201cwas not declining sales.\u00a0 You need a commercial model that enables you to survive. \u00a0When liabilities exceed assets there has to be something wrong in the profit-and-loss balance. \u00a0The fact that they had more than $100 million in investment but were not sustainable financially is very disappointing.\u201d<\/p>\n

\"Shop<\/p>\n

\"Shop<\/p>\n

<\/a> (Beth Clifton collage)<\/strong><\/em><\/div>\n

\u201cWe did our homework\u201d<\/h2>\n

Promised Fischer,\u00a0 \u201cWe did our homework and we\u2019re 100% confident in the quality and sales performance of the products and the demand.\u00a0 We will do our best to be good stewards of the brand.\u201d<\/p>\n

Fischer acknowledged to Watson that retail sales of plant-based dairy products have recently declined,\u00a0 but said he believes this has been \u201cdriven mostly by financial and cost concerns.<\/p>\n

\u201cI think Miyoko\u2019s Creamery can and will do a better job at recognizing and responding to those consumers requirements,\u201d\u00a0 Fischer said,\u00a0 \u201cwhile maintaining quality and craftsmanship.\u201d<\/p>\n

The Melt Organic brand has continued to grow,\u00a0 Fischer told Watson,\u00a0 despite the \u201cchallenging environment.\u201d<\/p>\n

\"Miyoko<\/p>\n

\"Miyoko<\/p>\n

<\/a> (Beth Clifton collage)<\/strong><\/em><\/div>\n

Miyoko: \u201cI am not associated\u201d<\/h2>\n

Fischer has headed Melt Organic for just short of eight years.\u00a0 Originally from Boise,\u00a0 he developed his business skills working in financial services in the Silicon Valley of California before returning to Boise as Melt Organic chief executive.<\/p>\n

Though not personally prominent,\u00a0 in contrast to Miyoko Schinner,\u00a0 Fischer is a longtime member of the Idaho Bike Coalition,\u00a0 and is a past president of the organization.<\/p>\n

\"Beth<\/p>\n

\"Beth<\/p>\n

<\/a> Beth & Merritt Clifton.<\/strong><\/em>
(Daniel Leventhal photo)<\/strong><\/em><\/div>\n

Commented Miyoko Schinner to AgFunderNews<\/em>,\u00a0 \u00a0\u201cI am not associated in any way [with Melt Organics,\u00a0 formerly the Miyoko\u2019s Creamery leading rival, \u00a0\u201cand while they now own the trademark \u2018Miyoko\u2019s,\u00a0 they cannot allude to my involvement nor endorsement nor use my name or image in any way.\u201d<\/p>\n

Please donate to support our work:\u00a0<\/strong><\/h2>\n

More related posts:<\/em><\/h3>\n<\/p>\n
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Discover more from Animals 24-7<\/h3>\n

Subscribe to get the latest posts sent to your email.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

(Beth Clifton collage) Can former Idaho Bike Coalition president Scott Fischer pedal Miyoko\u2019s Creamery back to the top of the plant-based heap? BOISE, Idaho\u2013\u2013Eight days after Miyoko\u2019s Creamery founder Miyoko Schinner,\u00a0 68,\u00a0 \u00a0lamented in a YouTube video that she did not win back control of the insolvent company with a last-minute crowd-funded bid,\u00a0 Prosperity Foods […]<\/p>\n","protected":false},"author":1,"featured_media":307108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12022],"tags":[8574,7880,11589,8642,137786,40166,137787,137790,13396,4809,137788,137789,19837],"dealstore":[],"offerexpiration":[],"class_list":["post-307107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-activist","tag-bid","tag-foods","tag-makers","tag-melt","tag-melt-organics","tag-meltdown","tag-miyoko-schinner","tag-miyokos","tag-prosperity","tag-put","tag-satish-karandikar","tag-scott-fischer","tag-winning"],"yoast_head":"\nMiyoko's Melt-down: Prosperity Foods, makers of Melt, put in winning bid - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=307107\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Miyoko's Melt-down: Prosperity Foods, makers of Melt, put in winning bid - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"(Beth Clifton collage) Can former Idaho Bike Coalition president Scott Fischer pedal Miyoko\u2019s Creamery back to the top of the plant-based heap? 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