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  • Puris Holdings and Livekindly Collective announce joint ventures

    Innovative plant-based food systems company, Puris Holdings, and Livekindly Collective have announced two new joint ventures with the aim of tackling food waste and delivering cleaner products to consumers worldwide. Puris will bring its expertise in plant-based food development, while Livekindly Collective will offer its global network of leaders in the plant-based space. Through this collaboration, the two companies aim to accelerate the adoption of plant-based nutrition by solving major issues within the supply chain – with the ultimate objective of making food systems more sustainable. “The plant-based food industry is experiencing unparalleled growth, on track to hit $85 billion by 2030, and the full supply chain must scale along with it,” said Nicole Atchison, CEO of Puris Holdings. “Joining forces with Livekindly Collective allows us to push all parts of the industry forward, ensuring it scales sustainably and affordably. Both Livekindly Collective and Puris believe in a future where our food system is a force for good – benefiting people and planet.” The first of the ventures will aim to deliver innovation to improve plant protein waste streams, developing “simple, clean, plant-based foods for like-minded brand partners that create food consumers want to eat and feel good about buying,” a statement said. To achieve this target, the two companies will invest in disruptive solutions to maximise usage of all parts of the plant. The second will focus on accelerating the global adoption of soil-enhancing protein-rich crops. The teams will foster agricultural wealth and social inclusiveness by leading a “measurable shift from degenerative to regenerative farming practices”. Part of this mission will include work in Southern Africa, where Puris’ pea variety had its early trials. “What got us here won’t take us where we need to go,” added Mark Hassenkamp, chief agriculture operations director of Livekindly. “We are facing an existential question of how to feed ourselves in the face of growing demand, diminishing resources and the need for sustainability. Together with Puris, we can accelerate the growing global plant-based food conversion by realizing seed to silo cost efficiencies, leveraging unique germplasm, digital tools and operational scale to grow more clean, affordable, high-quality food.” #LivekindlyCollective #Puris #sustainability #plantprotein #plantbased

  • Tree water company Sapsucker receives equity investment

    Organic sparkling tree water company, Sapsucker, has secured an equity investment from Canadian venture capital fund, District Ventures Capital. Established in 2015, Sapsucker produces a range of sustainably harvested beverages from Canadian maple trees. The company’s lightly carbonated tree waters are said to be rich in nutrients, with 46 naturally occurring minerals, vitamins and antioxidants, and contain no added sugar. According to District Ventures Capital, Sapsucker experienced ‘breakthrough’ sales and distribution in 2020. The brand’s sparkling beverages can be purchased at retail locations nationwide in Canada, as well as online through Sapsucker’s website. “Canada is home to an abundance of natural resources and we are proud to partner with a company that has tapped into a rapidly growing category by using Canadian ingredients to create a refreshing new product,” said Arlene Dickinson, general partner at District Ventures Capital. “Sapsucker embodies innovation and has created exciting new products for consumers that are delicious, sustainable and all-natural.” Tim Lute, CEO of Sapsucker, added: “At Sapsucker, we’re incredibly passionate about producing sustainable products that are one-of-a-kind delicious and better for you. “In partnering with District Ventures, we gain the expertise of a fund that understands our mission and brings comprehensive experience in growing emerging CPG brands.” District Ventures Capital, alongside Export Development Canada, recently led a financing round in gut-friendly food producer Fody Food Co. #Canada #DistrictVenturesCapital #Sapsucker #treewater

  • Overcoming challenges in the dairy alternatives sector

    The plant-based space is one of the most dynamic and fast-paced sectors of the food and beverage industry. Interest in this sector has grown year on year, with Meticulous Research predicting the market to reach $74.2 billion by 2027. Despite the smörgåsbord of plant-based products on the market, there are still some issues with texture, taste and likeness within the dairy alternatives sector. Companies have turned to technology to answer these problems, employing new techniques and ingredients to create products that better mimic their traditional dairy counterparts. FoodBev takes a look at some of the key pain points for manufacturers within this space, the steps that companies are taking to solve these issues and the innovations afoot to make these challenges a thing of the past. Cheese Cheese poses a problem for plant-based manufacturers. Each variety of cheese brings its own range of flavours and textures, which makes crafting plant-based alternatives a difficult affair. These unique qualities are created during the fermentation process, caused by the reaction between casein – which makes up 80% of the protein in cow’s milk – and culturing agents. Plant-based sources react differently to these agents and as such, do not replicate the same creaminess or meltiness found in traditional cheese products. When researching the differences between conventional and vegan cheese, Mecmesin – a provider of textural analysis solutions – found that vegan alternatives are often less firm and sticky due to the nature of the fats used in their production. To combat these issues, companies are looking to fabricate plant-based versions of animal fats and proteins. Motif Foodworks has initiated a joint-research project with the University of Guelph to create plant-based fats that imitate the way animal fats behave when cooked. Fats are key to creating a creamy and melty texture in cheese, so perfecting this aspect will be a big step in concocting plant-based alternatives. US-based dairy start-up, Perfect Day, uses microflora to produce proteins they claim make their products genetically indistinguishable from the real thing. To create their products, the team introduces the genetic code present in cow’s DNA to a fungus, which gives it the ability to produce the same proteins present in milk. The fungi are then fermented under strict conditions and left to formulate proteins that are free from the antibiotics and hormones often found in cow’s milk. Other producers are turning to readily available ingredients rather than fabricating new ones. For instance, Bute Island’s Sheese range relies on coconut as a base for its range of vegan cheeses. Coconut oil provides a stable and neutral base high in lauric acid – a component also found in cow’s milk – to which other flavourings can be added. Milk According to the Good Food Institute, plant-based milk now accounts for 14% of all dollar sales of retail milk in the US, with more than 40% of households regularly purchasing non-dairy versions. Despite the growing popularity of this sector, it is still met with challenges regarding taste and texture. Consumers often find that plant-based milk has an “off flavour” and can be more watery than dairy milk. A recent study from food science journal, Foods, explored the different processing methods behind plant-based milk production and found that certain methods can cause adverse qualities. Researchers found that ultra-heat treatment (UHT) processes helped to extend the shelf life of products, but created the beany flavour that some customers found unpleasant. The study suggested that additional processing measures – such as a two-phase UHT or vacuum application – could help eliminate the compounds responsible for this unfortunate taste. In addition, Elmhurst 1925 devised a process that allows the company to make a creamy dairy alternative using as few as two ingredients. By implementing the “HydroRelease” method, nutritional components of nuts or grains are first separated using water and then reassembled into a thick emulsion without the need for added gums or emulsifiers. Yogurt A report by Hexa Research predicts that the global vegan yogurt market will reach $2.53 billion by 2025, emphasising the growing consumer confidence in this sector. To reach this potential, plant-based yogurt producers are employing a number of different techniques to create the best products possible. The sour, tangy taste we expect from yogurts comes from the lactic acid produced by probiotic bacteria, which break down the lactose in cow’s milk. To compensate for the lack of lactose, plant-based yogurts tend to add more sugar, among other ingredients, to achieve a similar effect. This has had an adverse effect on the reputation of plant-based yogurts, with many consumers believing them to be packed with hidden sugars. Researchers at the Technical University of Denmark (DTU) may have the answer to this problem. DTU has worked to create an alternative starter culture optimised for use in the production of plant-based yogurts. The team has extracted lactic acid bacteria found in plants and used it to successfully acidify a sample of soy milk, which produces a result similar to dairy yogurt. Scientists believe that this method could scale effectively, and in time become a commercial success. With this, manufacturers can not only better replicate conventional yogurts, but also do away with added sugars, oils and stabilisers. Some companies are attempting to fight the high-sugar reputation that plant-based yogurts have amassed by creating product lines that focus on functional, superfood ingredients. Plant-based company Lavva credits its success to the use of the pili nut, which has a high-fat content that helps to create the smooth texture found in conventional yogurts. Prebiotic-rich plantains and a mix of vegan probiotic cultures are also included, resulting in a low-carb, low-sugar yogurt with more than 50 billion probiotics per serving. Have you got a great tasting dairy alternative? The World Plant-Based Taste Awards 2021 is a great way to give your product the recognition it deserves! Think you’ve got what it takes? See all 12 categories and find out how to enter here. #Dairyalternatives #plantbased #WorldPlantBasedTasteAwards #WorldPlantBasedTasteAwards2021

  • SweetPea debuts non-dairy ice cream made with chickpeas

    New dairy-free brand SweetPea has launched a range of plant-based frozen desserts made with chickpeas, which it claims are still ‘unbelievably creamy’. The new US brand says its plant-based ice cream alternative contains half the calories, half the fat and all the taste of dairy ice cream. SweetPea’s line of dairy-free frozen desserts comes in nine flavours: vanilla, peanut butter, cold brew, mango peach, cookies and cream, salted caramel praline, chocolate, cookie dough, and raspberry and pie pieces. “We’re excited to finally share SweetPea with ice cream lovers everywhere,” said SweetPea co-founder Heather Romens. She added: “It was important for us to provide a non-dairy frozen dessert that is both delicious and can be enjoyed by everyone. It took us a number of years, a lot of hard work, experimentation and taste tests to get SweetPea just right. I’m happy to report that it has been well worth the wait.” SweetPea is now available to order online for nationwide delivery and the brand anticipates in-store availability later this year. #US #chickpeas #SweetPea #vegan #dairyfreeicecream

  • Happi debuts new oat milk chocolate line in UK

    New free-from confectionery brand Happi has launched a range of chocolate made with gluten-free oat milk nationwide across the UK. The line includes four chocolate bar varieties – plain, cacao nib crunch (featuring a blend of crushed cacao nibs and chocolate), salted caramel and orange – as well as chocolate buttons. Happi chocolate is made with gluten-free oat milk, rice syrup and 47% single origin chocolate. The new brand says it sources its cacao directly and ethically from farmers and growers with a full ‘farm-to-bar’ supply chain. The free-from brand has replaced soya lecithin with sunflower lecithin to make the chocolate range completely allergen free. Happi also claims its line-up is 100% natural and contains 35% less sugar than other mass market chocolate brands. “When we began working on Happi about eight months ago, we looked around at the oat milk chocolate options in the speciality sector and they were either very expensive or not particularly tasty,” said Happi founder, Gavin Cox. He added: “We’ve set out to create a fun and approachable brand oat milk chocolate brand that is reasonably priced, tastes delicious and is something that parents would be happy to give their kids – and eat themselves. “The free-from market is dominated by major brands, however challenger brands are beginning to breakthrough and we want Happi to introduce new consumers to the category and have them buying not once, but multiple times.” Happi chocolate will be available from mid-February from Selfridges, Ocado and local independent retailers nationwide for an RRP of £1.75-3.50. All Happi packaging is either fully recyclable or compostable. #chocolate #Happi #freefrom #UK #dairyfree #Oatmilk #glutenfree

  • Bühler debuts new cooling die for meat alternatives

    Bühler has announced the launch of PolyCool 1000, a new high-capacity cooling die for high-moisture plant-based meat substitutes. Together with an extruder, PolyCool 1000 reportedly provides an efficient and flexible solution for food producers creating sustainable plant-based meat or fish alternatives. For the first time, the PolyCool 1000 allows a throughput of more than 1,000kg per hour. According to Bühler, cooling dies work with extrusion technology to create structures and textures that closely resemble animal-based meat products such as chicken, fish or beef. The company claims that its PolyCool 1000 cooling die – in combination with an extruder – enables the production of wet-textured proteins based on a wide range of raw materials, including soy, pulses, oilseeds, upcycled side streams like brewer spent grains, as well as newer ingredients such as microalgae. “Bühler has for many years supported food producers in developing innovative products that offer an attractive alternative to animal meat – products that are similar in terms of fibre structure, colour, texture, and taste,” said Christoph Vogel, head of market segment proteins & ingredients. “With the PolyCool 1000, customers can achieve high-capacity production, bringing down costs and making meat substitutes more affordable,” he added. The high-capacity cooling die can withstand pressures of up to 50 bar, as it cools down the extrudate from around 150 ºC to below boiling point. It also enables the production of products of different shapes and structures and the individual cooling circuits can each be controlled independently. PolyCool 1000 joins and completes Bühler’s range of high-moisture cooling dies including PolyCool 500 and PolyCool 50. With its new product, Bühler aims to meet the growing demand of plant-based proteins as a sustainable solution. “As the market shifts to a more plant-based diet, fuelled by consumers’ growing interest in health, sustainability and ethical concerns, the PolyCool 1000 supports food producers in grasping this opportunity,” said Vogel. Last month, Bühler announced a new partnership with the Deutsches Institut für Lebensmitteltechnik (DIL) to advance the development of sustainable protein products. #Bühler #coolingdie #meatalternatives #plantbased

  • Snack brand PeaTos raises $12.5m in round led by Post Holdings

    US snack brand PeaTos has secured $12.5 million in a Series B funding round led by Post Holdings, less than six months after raising $7 million in a Series A round. The funding will enable PeaTos to continue to drive its mission of revolutionising America’s favourite snacks by offering a better-for-you form of ‘junk food’. PeaTos claims its pea-based snacks – which contain no artificial colours, flavours or ingredients – have twice the protein and three times the fibre of its corn-based counterparts. Since its establishment, the brand says it has developed an online social following and experienced massive growth in its direct-to-consumer business by adding new services such as subscriptions and a loyalty programme. The pea-based snacks are also available in over 4,700 retailers, including Kroger and Sprouts, and are witnessing a rise in the foodservice sector. With its funding, PeaTos also aims to further its distribution and brand awareness efforts. The US brand says it is “poised for explosive growth” in 2021 and beyond. “Post has a long history of success in the CPG space and we are honoured to have them as part of our mission. The proceeds of this funding round will give us the ability to further execute on our ambitious strategic plan,” said Nick Desai, founder and CEO of PeaTos. Howard Friedman, president and CEO of Post Consumer Brands, added: “We are very excited to begin our partnership with Nick and the PeaTos brand. We believe it has a bright future and we can learn a lot from their entrepreneurial culture and gain an understanding of the fast-growing snacking space.” #US #PeaTos #plantbased #PostHoldings #snacks

  • SunOpta to boost plant-based production capacity with new investment

    SunOpta has announced an investment in its Allentown, Pennsylvania plant in the US, as it looks to expand its plant-based manufacturing capacity. In addition, the company has announced the closure of its frozen fruit processing plant in Santa Maria, California, effective immediately. SunOpta says that the rejigging of its manufacturing capabilities is part of a supply chain optimisation strategy to support its growth plans. Last year, the company announced the sale of its global ingredients business, saying that a portion of the proceeds would be used for capital investment into its plant-based foods and beverages segment. “I’m pleased to announce the further expansion of our plant-based foods and beverages production capacity,” said Joe Ennen, CEO of SunOpta. “This project, in our Allentown, Pennsylvania plant, follows the completion of three large projects in the fourth quarter of 2020 to accelerate the growth of our plant-based business. We expect this new capacity to come online in the fourth quarter of 2021.” Commenting on the closure of the Santa Maria plant, Ennen said: “This closure will reduce the cost basis in our frozen fruit business, while leaving ongoing relationships with growers intact and ensuring adequate capacity to service demand for years to come. “The highly successful automation and productivity efforts made over the last two seasons have created the ability for us to operate the same size business, with fewer assets.” Ennen added: “…given the plant closure, we are using this as a catalyst to evaluate marginally profitable or unprofitable customers and SKUs, which may lead to some customer and SKU rationalisation.” SunOpta is a food and beverage company offering co-manufacturing, private label, ingredient and foodservice solutions, as well as a number of consumer brands. Last year, the company launched a new range of organic fruit bars, in a move to expand into the ‘multi-billion-dollar’ snack bar segment. #plantbased #SunOpta #US

  • World Plant-Based Taste Awards 2021 postponed to June 2021

    With news that the Plant Based World Europe Conference & Expo will be postponed to June 2021, due to the evolving situation with Covid-19, we want to assure you that the World Plant-Based Taste Awards 2021 will still be taking place. The awards will still be held at the PBW Europe Conference & Expo, at the Business Design Centre in London, on the news dates: 24-25 June 2021. Our awards team are committed to ensuring our entrants the best opportunity to showcase taste in the pant-based industry and celebrate their successes with a live tasting event and awards ceremony. With that in mind, the deadline for entries into the World Plant-Based Taste Awards will be extended to the new date of Friday 7 May 2021, which means there is still plenty of time to get your entries in. As one of the first of its kind in this sector, these awards are a fantastic way for you to enhance the promotion of your plant-based brand and to ensure it gains global recognition. New ceremony date: 24-25 June 2021 New deadline date: 7 May 2021 If you have any questions or queries regarding the awards and the postponement please do not hesitate to get in touch with our awards team: awards@foodbev.com Our awards team are working from home and can be reached via LiveChat or email to answer any questions. #plantbased #WorldPlantBasedTasteAwards #WorldPlantBasedTasteAwards2021

  • Eat Just and Cuisine Solutions partner on vegan sous vide egg bites

    Eat Just has teamed up with Cuisine Solutions – a manufacturer of sous vide foods – for the launch of plant-based Just Egg Sous Vide bites in US retailers. The launch forms part of an exclusive agreement between the two companies, whereby Cuisine Solutions will develop and produce Eat Just’s plant-based sous vide egg worldwide. French for ‘under vacuum’, sous vide is a cooking method in which food is vacuum-sealed and slow-cooked in water at precise temperatures. The Just Egg Sous Vide bites come in four flavours inspired by regional cuisines and whole plants: America (roasted potato, dill, chives, red bell pepper and black pepper); India (curry, broccoli, cauliflower, coconut milk and lemongrass); Japan (portobello mushrooms, yams, togarashi, soy and tamari); and Mexico (roasted poblanos, chipotle chilli powder, black beans, corn and lime). Depending on the flavour, the bites contain between 9-13g of protein per serving. Made using mung bean protein, they are also free of cholesterol, non-GMO, dairy-free and contain no artificial flavours. Just Egg’s bites join its vegan egg portfolio that includes a pourable liquid and pre-baked folded format. Earlier this month, the company introduced its plant-based egg patty alternative to the menu of Chinese fast-food chain, Dicos. “The Cuisine Solutions team is the best in the world at what they do. We partnered with them because of their unparalleled expertise and leadership in the sous vide industry and their commitment to make our food system even better. We’re excited for consumers to taste what we’ve been working on,” said Josh Tetrick, co-founder and CEO of Eat Just. Felipe Hasselmann, president and CEO of Cuisine Solutions, added: “Josh’s vision for the future of plant-based food is extremely inspirational and also very much aligned with Cuisine Solutions’ vision – both organisations seek to impact and revolutionise the food industry on a daily basis, which is what makes this such a natural partnership. “We are extremely excited to start supplying customers with the best sous vide egg bites in the market made with the best plant-based eggs.” Just Egg Sous Vide bites will roll out in March in the freezer section at select grocery stores. #CuisineSolutions #eggalternative #US #Just #plantbased #EatJust

  • From bean to bleeding: the evolution of the plant-based burger

    Until recently, plant-based burgers rarely stemmed beyond vegetable or bean-based offerings. However, with the growing number of people enjoying a vegetarian, vegan or flexitarian diet, innovation in the plant-based burger sector has skyrocketed. According to Innova Market Insights, the average annual growth in global food and beverage launches with vegan and plant-based claims grew 21% and 58% respectively between 2015-2019. A staple of any vegan BBQ, FoodBev Media takes a look at how the plant-based burger market has evolved over the years. 2015 – 2017 2015 marks the year when vegan products started to become mainstream. With many big industry names, such as Califia Farms receiving substantial investments, and others such as Guinness adopting vegan-friendly products and manufacturing processes. However, the plant-based burger aisle remained sparse5, with a minimal amount of releases – one being Fry’s Family Food’s falafel burger – taking the foreground. 2016 saw further strides with meat alternative brand Beyond Meat introducing a new meat-free range that included plant-based burgers. In 2017, Beyond Meat secured $55 million in an investment round and even received investment from Leonardo DiCaprio. Another industry leader, Impossible Foods, also received substantial funding of $75 million in 2017, aimed specifically at creating meatless burgers. With such investments and backing from celebrities, innovation in the meat alternative market became a new trend, particularly due to growing global demand for protein in meat form. 2018 As we moved into 2018, Beyond Meat continued to expand by rolling out its Beyond Burger in 50 new countries. Since their launch in 2016, Beyond Meat had sold over 13 million of their protein-packed patties in nearly 15,000 restaurants and grocery stores by 2018. 2018 also saw various other big names launching new plant-based burger products. For instance, Kellogg’s plant-based brand MorningStar, Vivera and Sainsbury’s all launching plant-based burger products within this year. This year also saw the release of Don Lee Farms’ organic plant-based raw burger. When cooked, this burger ‘bleeds’ organic beet juice and sizzles on a grill like a conventional burger, paving the way for similar products in the coming years. 2019 In 2019, a plethora of new plant-based burger products were brought to the table. This year saw a rise in global meat brands offering burger alternatives, for example, Marfig’s Revolution burger and Smithfield Foods’ plant-based burger. This, along with Beyond Meat’s release of a new “meatier” burger, signifies a key industry shift towards plant-based burgers, particularly those catering to a flexitarian audience. Many consumers chose to cut down on the amount of meat they ate, rather than give it up completely. As a result, many consumers felt comfortable purchasing plant-based products from meat companies as part of a flexitarian lifestyle, opening up the plant-based burger market to experiment with textures, flavours and tastes that mimic its meaty counterpart. Plant-based burgers stepped even further into the mainstream in 2019 with well-known fast-food chains trialling their own meat alternatives. McDonald’s partnered with Beyond Meat to trial a new plant-based burger called the P.L.T in Canada and Burger King released a plant-based Impossible Whopper burger in the US for a limited period of time. In 2019, Bunge Loders Croklaan developed new fats for meat-free burgers and DuPont launched new solutions for plant-based meat alternatives. These large scale ingredients companies, which were providing solutions for plant-based meat, would be sure to lend a convenient hand in bringing alternative products to the fore in the coming years. Other releases in 2019 included Nestlé’s ‘PB triple play’, a plant-based bacon cheeseburger, Kellogg’s MorningStar ‘Incogmeato’ burger and Impossible Food’s meat-free burger without gluten. 2020 New releases were plentiful in 2020 with the release of Conagra Brands’ Gardein Ultimate Plant-Based Burger, Sysco’s plant-based burger patty and Tofurky branching out to beef alternatives with their plant-based beef-style burger. The market also saw a lot of experimentation with flavours, for instance, with Nestlé-owned Sweet Earth Foods releasing a plant-based burger infused with vegan bacon bits, showing big brands innovating burger alternatives further in order to stand out in a market that is now more saturated. As the impacts Covid-19 were felt across the globe, many took to home-cooking and ordering meal kits. While meal kits were on the rise prior to the pandemic due to their convenience, national lockdowns and restrictions elevated their success to burgeoning heights. For example, in July 2020, meal kit firm Home Chef collaborated with Impossible Foods to offer customers a range of plant-based meal options including their Impossible Burger. According to Grandview Research, the meal kit delivery service market is estimated to reach nearly $20 billion by 2027. 2020 was an important year for plant-based burgers in Europe as the European Parliament voted to reject the ban on products using names typically associated with meat products. The ‘veggie burger ban’ would have restricted the use of terms such as ‘sausage’, ‘burger’ and ‘steak’ on labels for plant-based alternative products and could have seen them renamed as ‘veggie discs’ or ‘veggie tubes’. 2021 and beyond We are currently only at the beginning of 2021 but have already witnessed some new plant-based burger releasest. Kerry Foods added two new vegan products to its Naked Glory line-up, which included No-Beef Strips and Chick’n Burgers. These additions signal the plant-based burger market moving beyond beef burger alternatives towards a variety of offerings. Notably, 2021 will see the debut of McDonald’s line of plant-based meat options called McPlant, including a plant-based patty. According to Reuters, this will put the plant-based meat movement at the forefront in America. This year, the Veganuary campaign saw a record-breaking number of sign-ups. Many more consumers are now experimenting with or adopting a flexitarian diet and this surge in plant-based product launches has provided both variety and convenience. Ultimately, this has heightened demand for plant-based meat products that look and feel familiar. Plant-based burgers are becoming mainstream and we have seen recent trends towards burgers that look, cook and even sizzle and bleed just like real meat. Innovation is rife in the plant-based industry and the World Plant-Based Taste Awards 2021 are a fantastic way to showcase how great your innovations taste. Think you’ve got what it takes to win? Enter now! #plantbased #plantbasedburger #WorldPlantBasedTasteAwards #WorldPlantBasedTasteAwards2021

  • Kate Farms adds further investment to Series B round

    Kate Farms – maker of plant-based formulas used in the treatment of chronic illnesses – has secured investment from Main Street Advisors, taking the total amount raised in its Series B round to $60 million. Main Street Advisors joins Goldman Sachs and Kaiser Permanente Ventures – which invested in Kate Farms’ Series B $51 million funding round last November – bringing the final amount raised to $60 million. Following on from its first announcement, Kate Farms says the capital will help fuel its growth, while driving ‘overall innovation’ and expansion of the business. Main Street Advisors invested in the company through its investment fund MSA Enterprises, which targets growth companies in the consumer, entertainment, media and sports sectors. The firm has previously invested in Beyond Meat. “We have deep experience investing in health and wellness companies with compelling growth opportunities ahead of them,” said Main Street Advisors founder and CEO Paul Wachter. He added: “Kate Farms medical formulas and nutrition shakes address the urgent state of healthcare in this country due in large part to poor nutrition, and the impact the company can have on both individual health and ultimately decreasing the cost of healthcare overall makes this an excellent investment.” Kate Farms has worked with a number of organisations during the coronavirus pandemic, including Support+Feed, Meals on Wheels and several hospitals to donate meals to at-risk populations, from senior citizens to frontline healthcare workers to the homeless. “We know first-hand that our clinically proven shakes can help improve people’s health by providing daily nutrition to those with medical conditions—severe or mild—to recover and maintain their health,” said Kate Farms chairman and CEO Brett Matthews. In 2020, Kate Farms launched three new products and formulas including a speciality formula for children, a product to help people who suffer from weight loss due to chemotherapy and a meal replacement shake. Keep up to date with the plant-based industry by subscribing to FoodBev’s latest title, The Plant Base, launching March 2021. #formula #KateFarms #plantbased #US

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