Califia Farms, a leading producer of nondairy milk alternatives, has raised $225 million in additional investments from all over the world.
The largest investor is the Qatar Investment Authority, with other investments coming from Canada, Hong Kong and Latin America. The $225 million will constitute a minority stake in the privately held company, with representatives of the Qatari and other investors joining Califia’s board.
The investment comes as consumption of conventional milk is dropping, with plant-based milk taking up much of the slack. In the last four years, non-dairy milk consumption has increased 23%, while conventional milk consumption dropped 20%, according to Nielsen data. The two largest processors of liquid milk, Dean Foods and Borden, have both recently filed for bankruptcy.
