Funding Provides Califia Farms, a leading plant-based food and beverage company, with long-term capital and global support for continued rapid expansion, and disruption of the $1 trillion+ dairy and ready-to-drink coffee markets
LOS ANGELES, Jan. 15, 2020 /PRNewswire/ — Califia Farms®, a leading independently owned plant-based food and beverage company founded by natural product visionary Greg Steltenpohl, announces it has completed one of the largest private capital raisings within the natural foods sector, through a $225 million Series D financing led by the Qatar Investment Authority (QIA). Other investors in the financing include Singapore headquartered investment company Temasek, Canada based Claridge, Hong Kong based Green Monday Ventures, and a Latin America based family with significant interests in coffee and consumer products.
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.
Demand for plant-based beverages is exploding worldwide as consumers seek healthier, great-tasting dairy alternatives. This latest funding round will help Califia Farms 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.
Inspired by the legendary Queen Califia, namesake of the state of California, Califia Farms was founded in 2010 and has become one of the fastest-growing natural food and beverage companies of scale in the U.S. and select international markets. Califia is on a mission to discover and share ‘what plants can do’ to help people transform their health and adopt a lower carbon ‘foodprint’1.
Califia is looking forward to working with a more global investor base, as the company continues to grow and fulfill its mission. “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 & 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. “Califia’s role is to help plant the future.”
“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,” he added.
Barclays acted as exclusive financial advisor and sole placement agent to Califia Farms on the capital raise, and Akin Gump served as legal counsel.
About Califia Farms (pronounced “Cal-ih-FEE-ah” like California)
Inspired by Queen Califia, the mythical namesake of the state of California, Los Angeles-based Califia Farms was founded in 2010 and has become one of the fastest-growing natural beverage companies in the U.S. Renowned for offering the best-tasting plant-based beverages on the market artfully packaged in unique curvy bottles, Califia is now a leading refrigerated Plant Milk, Dairy Free Creamer and Ready-to-Drink Coffee brand in the Natural and Specialty channels. Califia’s premium plant milk beverages make it easy for people to make delicious ‘plant powered’ choices that produce 60-80 percent fewer greenhouse gases than consuming cow’s milk2. Most recently Califia launched a breakthrough line of Oat Milks, Dairy Free Probiotic Yogurt drinks and Nitro Cold Brew coffees. Califia is on a mission to return food to its original nourishing purpose by applying creativity and innovation to make plant-based food and beverages that are both good for you and good-for-the-world.
1 Poore, J. & Nemecek, T. (2018). Reducing food’s environmental impacts through producers and consumers. Science.
2 Geyer, R. and Kendall, A. (2018) Cradle to Gate Life Cycle Assessment of Califia Almondmilk. Universities of California at Davis and Santa Barbara.