Califia Farms has announced it has secured more than $50 million in funding from current and new investors, and has also appointed Sandeep Patel as its chief financial officer to support long-term strategic growth.
Califia will expand its company-owned manufacturing site in Bakersfield, California, further commercialising recent innovations in plant-based milks, non-dairy creamers and cold-brew coffees. This investment will also promote the launch of its new line of probiotic, dairy-free yogurt drinks.
Investors include names such as Jared Leto, Leonardo DiCaprio, Karlie Kloss, Shaun White, Tyler Hubbard and Brian Kelley. All the investors were said to be in favour of plant-based lifestyles.
Ambrosia Investments partner and chairman Serge Schoen said: “Califia Farms has achieved remarkable growth in its six years of operation through a disruptive suite of plant-based products.
“We’re excited about our investment in Califia and are committed to the long-term growth of the company as the brand continues to innovate and introduce products that truly live up to their motto of ‘Something Different, Something Better’.”
One of the fastest-growing natural beverage companies in the US, Califia has appointed Sandeep Patel to support future growth by leading the company’s finance organisation and advising on certain operational, legal, technological and strategic areas.
Patel said: “Califia is at the intersection of some of the most powerful trends to shape the food system in the last 50 years.
“I am a big believer in Califia’s mission and am honoured to have the opportunity to join Greg and team to help build upon the great success achieved thus far.”
Califia Farms CEO and co-founder Greg Steltenpohl said: “Sandeep has a differentiated understanding of the food and beverage industry from soil to shelf as well as deep expertise helping high-growth companies like Califia develop strong financial frameworks and access to capital compatible with a long-term vision. I am thrilled to have Sandeep as a full-time partner.”
Califia is rapidly growing in a range of channels by creating innovative, premium beverages, encouraging an accessible ‘plant-powered’, dairy-free lifestyle.
© FoodBev Media Ltd 2021
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