A group of investors have pledged approximately $200 million to support the launch of The Livekindly Co., a new plant-based food collective which will predominantly focus on the plant-based meat alternative market.
The Livekindly Co. has been founded by Roger Lienhard, an early investor in Beyond Meat and Impossible Foods, and the collective encompasses the operations of The Fry Family Food Co., LikeMeat and Livekindly Media.
The Fry Family Food Co. is a South Africa-based company which produces meat alternative products such as burgers for the foodservice industry, while LikeMeat is a German start-up which has developed a plant-based alternative to chicken.
As well as holding majority stakes in The Fry Family Food Co. and LikeMeat, the collective has also acquired a minority stake in pea protein producer Puris Holding, providing direct access to ingredients.
A statement released by The Livekindly Co. has declared that the funding will be used for further acquisitions, scaling its current plant-based food portfolio of brands and investments to rapidly increase the company’s presence in the plant-based food industry.
Roger Lienhard, director and founder, said: “The Livekindly Co.’s approach offers a path forward for transforming the global food industry.
“Our team has built a new formula for success by bringing innovation, experience, resources, and scale throughout the plant-based chicken value chain.
“It started with bringing together like-minded founders who share a vision for smarter, sustainable living, and allows the food industry to better align around the evolving values of consumers who are focused on climate change, animal welfare, and human health.”
Kees Kruythoff, chairman & CEO, added: “Unlike any other company in this space, the Livekindly Co. is creating a movement that will drive impact at scale and at speed.
“We are starting with one of the world’s most consumed meats–chicken-by providing outstanding, tasty, plant-based foods that are more sustainable and environmentally friendly.
“We’re also partnering with incumbent poultry companies including PHW in Europe and RCL Foods in South Africa, who are committed to embracing plant-based options.”
© FoodBev Media Ltd 2020
World Dairy Innovation Awards – OPEN FOR EARLY BIRD ENTRIES!
The awards celebrate excellence and innovation across the global dairy industry.
Don’t miss out on having your innovations recognised on a global scale.
Early bird deadline 19 March – enter now!