Califia Farms Plans Expansion with $50 Million Funding Round

File photo, courtesy of Califia Farms.

California-based plant-based beverage company Califia Farms, whose portfolio has delved increasingly deeper into the specialty coffee category, has acquired $50 million in a new funding round.

Led by the Luxembourg-based investment firm Ambrosia Investments with existing investors Sun Pacific — owner of the Cuties brand of mandarins — and Stripes Group, the latest funding round adds to at least two other major investments for the eight-year-old company over the past three years, including a $15 million lease structure deal with CapX partners in 2017, and a $50 million investment from Stripes in 2015.

The investment will be used to expand company-owned manufacturing operations in Bakersfield, California, while furthering development of plant-based milks, non-dairy creamers and cold brew coffee products. The company also just launched a line of probiotic dairy-free yogurts, according to an announcement from Califia this week.

Ambrosia Investments Partner and Chairman Serge Schoen is the former chairman and CEO of the Louis Dreyfus Company, one of the largest logistics and supply chain management companies in the coffee sector.

“The company has also brought on board a small group comprised of actors, musicians, professional athletes and supermodel entrepreneurs who support the values of a plant-based lifestyle,” the company announced, adding that deals have been struck with Jared Leto, Leonardo DiCaprio, Karlie Kloss, Shaun White, Tyler Hubbard and Brian Kelley.