EXCLUSIVE-Almond Milk Maker Califia Raises $225 Mln, On Coattails Of Beyond Meat IPO
From: cnbc.com
Almond milk producer Califia Farms has raised $225 million from global investors including Singapore’s Temasek Holdings who are looking for the next plant-based food hit after the market debut of vegan burger maker Beyond Meat last year.
The Los Angeles-based company said on Tuesday its latest funding was led by Qatar Investment Authority and included Temasek Holdings, Canada-based Calridge, Hong Kong’s Green Monday Ventures and a Latin America based family with big interests in coffee and consumer products.
The investor rush into plant-based milk comes as cow milk consumption is falling, partly due to health and environmental reasons, leading to two of the largest dairy producers in the United States – Dean Foods and Borden Dairy Company – filing for bankruptcy protection in the past two months.
