Coca-Cola Israel (The Central Bottling Company – CBC) and Israeli food-tech company BioMilk have signed a strategic investment term sheet, which will see CBC invest up to $2 million in the development of BioMilk’s cultured milk products.
As part of the deal, BioMilk will transfer its products to Tara Dairy, which is owned by CBC, for a “pilot commercial production”. Subject to final agreement, the investment will also enable BioMilk to create products that are sustainably sourced and have a low carbon footprint.
“We are pleased to enter into a strategic collaboration with a leading company in the food and beverage field with an emphasis on dairy products, which aims to lead to the integration of the technological solutions that BioMilk develops into Tara Dairy’s products,” said Tomer Aizen, CEO of BioMilk.
“Our company is a pioneer and leads a technological, nutritional and ecological revolution. BioMilk intends to develop products that will enable CBC through Tara Dairy to market revolutionary, tasty and functionally valuable products while preserving the environment. BioMilk is the first company in the field of cultured milk that receives a strategic investment from a leading dairy industry player.”
He continued: “This investment will allow BioMilk to step up technological developments and accelerate its reach towards the fridges and shelves of consumers, with a variety of dairy products based on ‘real’ milk produced in a lab from mammalian cells, with a clear differentiation over other alternative plant-based milk substitutes”.
Yoram Sagy, President of CBC added: ” The Central Bottling Company’s innovation arm has been working in recent years to locate the world’s most advanced technologies in the field of food development. In BioMilk we have identified a significant food technology player, from both business and sustainability perspectives.”
© FoodBev Media Ltd 2021
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