The rise of plant-based food consumption continues at an accelerated rate, and the LIVEKINDLY Collective is continuing that movement with the help of a major investment. Recently, the global multi-brand company, founded by Blue Horizon Corporation, announced a successful capital raise of $135 Million led by Blue Horizon. Investors included a syndicate from Asia led by Trustbridge Partners, and global investment organization EQT, along with Griffith Foods, and other existing shareholders.
“We see significant investor interest increasing around our movement,” said Kees Kruythoff, CEO and Chairman. “Through our plant-based food platform, we’re committed to ethically and environmentally friendly practices in everything we do. We are also uniquely positioned to scale rapidly and transform the current global food system.”
LIVEKINDLY Collective will be using the proceeds from this capital raise to accelerate its mission to transform the current unsustainable meat-centric food system by making healthier, delicious, and more sustainable plant-based alternatives accessible to consumers worldwide. The majority of proceeds will be used to increase capacity and accelerate the 2021 nationwide U.S. launch of portfolio brands The Fry Family Food Co., LikeMeat, and Oumph!, whose products are currently available in select markets across Europe, Africa, and Australia. In addition, the investment will go toward developing new products, including plant-based chicken and eggs.
With this additional round, the total funds raised by the company in 2020 amount to $335 million, resulting in LIVEKINDLY Collective becoming one of the highest funded plant-based food companies globally, according to the press release.
“Global consumer demand for plant-based meat alternatives is growing rapidly, creating a meaningful opportunity for investors, and our focus on chicken alternatives addresses a massive global need,” said David Knopf, Chief Financial Officer. “Our plans to accelerate business growth not only [meet] the demand of consumers for healthier and more environmentally friendly products, but also creates an attractive investment opportunity behind a purpose-driven business model.”
How will the plant-based sector change thanks to LIVEKINDLY Collective’s latest investment round? Deli Market News will report that and more, so stay tuned.