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Califia Farms secures $50m investment from Stripes to boost plant-based beverages innovation

Published 16 September 2015

Califia Farms has received a $50m investment from New York-based private equity firm Stripes Group to advance its research and development in plant-based beverages and foods.

orange juice

The firm stated that the investment would be used for expanding production and distribution network, research and development, hiring, and sales and marketing.

The company also intends to take Stripes Group's help to develop resources and bolster its digital brand building initiatives.

This is the first outside investment secured by Califia Farms, which debuted in February 2013 with three citrus juices.

Stripes Group team members Karen Kenworthy and Dan Marriott will join Califia Farm's board of directors.

It has been co-founded in 2010 by Greg Steltenpohl, who is the CEO. While Stripes Group has invested in Califia Farms, it remains independent and is majority owned by Sun Pacific.

The firm has introduced new categories including Almondmilk Coffee Creamers and Agua Frescas besides rolling out unique flavors to its existing product lines such as Vanilla Coconut Almondmilk Horchata and Pumpkin Spice Latte.

Steltenpohl said: "We are excited to add Stripes Group as a partner in our ongoing mission to be the plant-based food and beverage Company of the future.

"Stripes Group is perfectly aligned with our culture of rapid innovation and sustainability, and they are deeply supportive of our commitment to provide delicious, mindful nourishment that enables people to live healthier lives with plant-based products. Plus, we love Stripes Group's excellent track-record of supporting entrepreneurs in their efforts to build unique brands."


Image: Califia arrived into the beverage market with citrus juice. Photo: Courtesy of tiverylucky/FreeDigitalPhotos.net.