Popular Almond Milk Company Secures $50 Million Investment

Almond milk producer Califia Farms has secured $50 million to boost production of its California-grown nut-and-fruit-based beverages. The company, one of the fastest-growing natural beverage businesses in the nation, received the investment from New York-based Stripes Group in order to help achieve Califia’s goal of becoming “the plant-based company of the future … [committed to] rapid innovation and sustainability…” The investment reflects booming interest in plant-based products, with a recent report showing non-dairy milk sales rose nearly 94 percent from 2009 to 2014, and Califia Farms’ own Almondmilk line experiencing a 177 percent growth year-over-year.