People are saying goodbye to dairy and hello to plant-based milks more than ever before. With health, animal welfare and environmental concerns, and lactose intolerance as reasons for the switch, demand for dairy milk has gotten so low that many dairy plants have lost their contracts, shut down, and some have even made the smart adjustment to grow almonds and produce plant-based milk instead. This rise in demand for plant-based milk has gotten so high that the global non-dairy milk industry is set to reach $14.4 billion just by 2020. Taking note of these trends, investors have been eager to get a piece of the financial success, including Ambrosia Investments, Sun Pacific, and Stripes Group, which all just invested more than $50 million in plant-based dairy alternative brand Califia Farms.
Pronounced similarly to California, where the company is based, Califia Farms has quickly shot up as a key contender in the plant-based milk market during the six years of its operation, introducing popular alternatives to dairy milks, creamers, and coffee beverages.
Greg Steltenpohl, CEO and Co-Founder of Califia Farms, said this about the latest investment: “This round of funding will allow us to further pursue our vision to be the leading plant-powered food and beverage company of the future by investing in our four brand pillars of sustainability, health and wellness, plant-based innovation and engaging consumer experiences … Serge Schoen and his partners at Ambrosia complement our current investors with global experience in optimizing plant-based supply chains and supporting the continued rapid growth of entrepreneurial companies like Califia Farms.”
Serge Schoen, Partner and Chairman of Ambrosia Investments, stated, “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’.”
In addition to being able to produce more of their delicious plant-based beverages with their expanded facilities, Califia will also be able to grow their new line of Probiotic Dairy Free Yogurt Drinks! We are also excited about Califia Farms’ expansion, as it means the plant-based movement is growing powerfully, and the destructive dairy industry is dwindling, which is a good thing for the entire planet.
To learn more about Califia Farms and how they have become such a success, check out this podcast with Greg Steltenpohl and One Green Planet’s Nil Zacharias.
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