16 January 2020 | News
This funding provides Califia Farms, a leading plant-based beverage and food company, with long-term capital and global support to continue its rapid expansion and disruption in the ready-to-eat dairy and coffee markets worth $ 1,000 billion
Califia Farms ®, a leading independent plant-based food and beverage company founded by natural products visionary Greg Steltenpohl , announces that it has concluded one of the most major private capital raising from the natural food sector, thanks to $ 225 million in Series D financing led by the Qatar Investment Authority (QIA). Other investors in the financing included Temasek, an investment company based in Singapore, Claridge, a company based in Canada, Green Monday Ventures, based in Hong Kong, as well as a family from Latin America with significant holdings in the coffee and consumer products sectors.
The new group of investors will take a minority stake in Califia Farms, with several representatives from QIA, Temasek and Claridge joining the Califia board of directors, alongside founder Greg Steltenpohl and existing investors, namely Sun Pacific , Stripes and Ambrosia.
The demand for herbal beverages is currently booming around the world as consumers seek healthier and tastier alternatives to dairy products. This latest round of funding will help Califia Farms build on the success of its oat platform, as well as launch new ranges. The products will also allow Califia to invest more in increasing its production capacity, in R&D in a substantial way, in deep penetration of the American market, as well as in the pursuit of its global expansion.
Inspired by the legendary Queen Califia, namesake of the state of California, Califia Farms was established in 2010, and the company became one of the fastest growing beverage and natural food companies in the United States and in several international markets. Califia's mission is to discover and share "the power of plants" to help individuals transform their health and reduce their carbon "footprint" 1 .
Califia intends to work with a more global investor base, as the company continues to grow and fulfill its mission. "The global ready-to-use dairy and coffee sector, valued at more than $ 1 trillion, is poised to continue its dislocation, as people around the world tend to transform their health and their well-being through the adoption of low-processed, nutrient-rich food products that are both better for the planet and for animals, ”said Greg Steltenpohl , founder and CEO of Califia. “Califia's role is to sow the seeds of the future. "
Barclays acted as exclusive financial advisor and exclusive placement agent to Califia Farms in connection with the raising of capital, and Akin Gump acted as legal advisor.