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Califia Farms, with the help of this latest funding, will build on the success of its oat platform and launch other lines. Moreover, Califia plans to invest the proceeds in increased production capacity, deeper U.S. penetration, substantial R&D, and continued global expansion.
FREMONT, CA: Califia Farms, an independently owned plant-based food and beverage company, announces the completion of one of the largest private capital raisings within the natural foods sector, with a $225 million Series D financing. The financing was led by the Qatar Investment Authority (QIA), and other investors in the financing were Canada-based Claridge, Singapore headquartered investment company Temasek, a Latin America based family with significant interests in coffee and consumer products, and Hong Kong-based Green Monday Ventures.
With this funding, the Califia Farms completes landmark $225 million financings with a diverse group of global investors. The new investor group will take a minority stake in Califia Farms, with representatives from QIA, Claridge, and Temasek, joining the Board of Califia, alongside founder Greg Steltenpohl and existing Investors Stripes, Sun Pacific, and Ambrosia.
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With consumers seeking healthier and great-tasting dairy alternatives, demand for plant-based beverages is exploding worldwide. Califia Farms, with the help of this latest funding, will build on the success of its oat platform and launch other lines. Moreover, Califia plans to invest the proceeds in increased production capacity, deeper U.S. penetration, substantial R&D, and continued global expansion.
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 the next stage of our growth," he added.
Barclays served as exclusive financial advisor and sole placement agent to Califia Farms on the capital raise, and Akin Gump served as legal counsel.
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