Investee Company Update: LIVEKINDLY Collective
7.30am 15 October 2020
("Agronomics" or the "Company")
Portfolio Company, the LIVEKINDLY Collective, announces an additional US$135 Million Capital Raise
The Board at Agronomics is pleased to confirm that LIVEKINDLY Collective ("LIVEKINDLY"), a major holding, has completed a capital raise US$ 135 million financing through convertible securities. LIVEKINDLY is building its portfolio of brands that offer plant-based chicken alternatives, including The Fry Family Food Co, Oumph! and LikeMeat. The Company's equity interest in LIVEKINDLY is currently 1.5%.
The full announcement is set out below with no material changes or adjustments:
LIVEKINDLY Collective Announces an Additional $135 Million Capital Raise
Following a Successful Founders Round of $200 Million Earlier this Year
Seeks to Make Plant-Based Food the New Normal with Protein-Packed Meat Alternatives
NEW YORK | October 14, 2020 -The LIVEKINDLY Collective, a leading global multi-brand plant-based food company, today announced a successful capital raise of $135 Million led by Blue Horizon Corporation. Investors included a syndicate from Asia led by Trustbridge Partners, and global investment organization EQT, along with Griffith Foods, and other existing shareholders.
Proceeds from this capital raise will be used to accelerate LIVEKINDLY Collective's mission to transform the current unsustainable meat-centric food system by making healthier, delicious and more sustainable plant-based alternatives accessible to consumers worldwide. The majority of proceeds will be used to increase capacity and accelerate the 2021 nationwide U.S. launch of portfolio brands Fry Family Food Co., LikeMeat, and Oumph! whose products are currently available in select markets across Europe, Africa and Australia, and develop new products, including plant-based chicken and eggs.
"We see significant investor interest increasing around our movement," said Kees Kruythoff, CEO and Chairman of LIVEKINDLY Collective. "Through our plant-based food platform we're committed to ethically and environmentally-friendly practices in everything we do. We are also uniquely positioned to scale rapidly and transform the current global food system." "Global consumer demand for plant-based meat alternatives is growing rapidly, creating a meaningful opportunity for investors, and our focus on chicken alternatives addresses a massive global need," said David Knopf, Chief Financial Officer of LIVEKINDLY Collective. "Our plans to accelerate business growth not only meets the demand of consumers for healthier and more environmentally friendly products, but also creates an attractive investment opportunity behind a purpose-driven business model."
With this additional round, the total funds raised by the company in 2020 amount to $335 Million, resulting in LIVEKINDLY Collective becoming one of the highest funded plant-based food companies globally.
The Livekindly Company, Inc. was founded by Blue Horizon Corporation to accelerate the transformation of the global food industry into a healthier, sustainable, kinder food system, accessible to all. Through strategic partnerships with seed growers, producers, and distributors, LIVEKINDLY Collective is the only company in the plant-based food sector to own and operate the entire value chain. As a collective of founders, entrepreneurs and global leaders, the company is uniquely positioned to create impact at speed, at scale. Through its brands The Fry Family Food Co., LikeMeat, and Oumph!, LIVEKINDLY Collective is making plant-based eating the new normal and providing consumers with healthy, sustainable, delicious food. Its mission-driven lifestyle and media platform LIVEKINDLY inspires its community to make positive and sustainable changes through entertaining, and informative content.
Agronomics is a leading listed investor in cellular agriculture with a focus on cultivated meat and alternative proteins. The Company invests in technologies that offer new ways of producing food and materials with a focus on products historically derived from animals. These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage. This disruption will decouple supply chains from the environment and animals, as well as being fundamental to feeding the world's expanding population.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
For further information please contact:
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Agronomics Limited |
Beaumont Cornish Limited
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Cenkos Securities Plc |
Peterhouse Capital |
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The Company
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Nomad |
Joint Broker |
Joint Broker |
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Richard Reed Denham Eke
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Roland Cornish James Biddle
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Giles Balleny Max Gould Michael Johnson (Broking)
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Lucy Williams
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+44 (0) 1624 639396 |
+44 (0) 207 628 3396 |
+44 (0) 20 7937 8900 |
+44 (0) 207 469 0936
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