LOS ANGELES — A large investment in Califia Farms will help the company build on the success of its oat platform and launch other lines of its plant-based milks and juices.
The Los Angeles-based company said it completed one of the largest private capital raisings within the natural foods sector through a $225 million Series D financing led by the Qatar Investment Authority.
"Speed to market is critical for companies at our stage, and we are thrilled that our new partners share our vision to be the leading independent brand in the plant-based sector," said Greg Steltenpohl, Califia's founder and CEO. "Each of our partners brings significant resources and global expertise to accelerate our next stage of our growth."
Proceeds from investors will also allow Califia to further invest in increased production capacity, R&D, deeper U.S. penetration and global expansion efforts, according to the company. Califia Farms recently released shelf-stable Nitro Draft Lattes With Oatmilk. The natural beverage company also produces almond and oat milks, coffee creamer, cold-brew coffee, Mexican juices, citrus juices and seasonal drinks.
The Qatar Investment Authority and other investors will take a minority stake in Califia Farms, which will add representatives of those companies to the Califia board alongside Steltenpohl and other investors.