Califia Farms, maker of plant-based milks and ready-to-drink coffee, has raised $225 million from global investors in a series D financing round. In what it calls “one of the largest private capital raisings within the natural food sector,” Califia Farms will use the funding to build on the success of its oat platform and launch other lines. Proceeds will also allow Califia to further invest in increased production capacity, substantial R&D, deeper U.S. penetration, and continued global expansion.
The round was led by Qatar Investment Authority and included Temasek Holdings, Canada-based Calridge, and Hong Kong’s Green Monday Ventures. The new investor group will take a minority stake in Califia Farms, with representatives from QIA, Temasek, and Claridge joining the board of Califia, alongside founder Greg Steltenpohl and existing investors Sun Pacific, Stripes, and Ambrosia.
“The more than $1 trillion global dairy and ready-to-drink coffee industry is ripe for continued disruption, with individuals all over the world seeking to transform their health and wellness through the adoption of minimally processed and nutrient rich foods that are better for both the planet and the animals,” said Greg Steltenpohl, Califia’s founder and CEO, in a company press release. “Speed to market is critical for companies at our stage, and we are thrilled that our new partners share our vision to be the leading independent brand in the plant-based sector. Each of our partners brings significant resources and global expertise to accelerate our next stage of our growth.”
Nestlé Waters has announced that the entire plastic bottle range for the Swiss mineral water brand Henniez is now made of 75% recycled PET plastic (rPET).
Ardent Mills, a flour-milling and ingredient company, has announced its acquisition of Andean Naturals’ quinoa sourcing, cleaning, and packaging operation in Yuba City, Calif.
Dow has launched its call for entries for the 2020 Packaging Innovation Awards, an annual competition to recognize original thinking that is transforming the packaging landscape through enhanced user experience and improved sustainability.
The Food and Agriculture Organization (FAO) has launched the United Nations’ International Year of Plant Health (IYPH) for 2020, which aims to raise global awareness on how protecting plant health can help end hunger, reduce poverty, protect the environment, and boost economic development.
A study published in the American Journal of Agricultural Economics calculated that American households waste, on average, almost a third of the food they acquire—a value of $240 billion annually or $1,800+ per household/year.