Oddlygood Global, a spinoff of Valio, one of Finland's premiere food companies, closed its first round of funding with an investment of $28 million from the private equity division of Helsinki-based Mandatum Asset Management.
Misha’s, a California plant-based dairy alternative company announced it closed a $3M seed round led by investors JAY-Z’s Marcy Ventures Partners Fund II, L.P., a firm with a passion for building game-changing consumer businesses, Lisa Shamus & Partners, a leader in innovative branding and licensing, and Chris Paul, 11-time NBA All-Star and businessman who seeks opportunities that accelerate social change and sustainably build a fair, equitable society.
Actual Veggies has closed a $2.3M round of funding from Electric Feel Ventures, the venture arm of Post Malone's management team, run by Austin Rosen; Big Idea Ventures; Rose Street Capital; former Arsenal and current Inter Miami CF defender, Kieran Gibbs, and other strategic investors. Combined with its previous funding round from Big Idea Ventures and angel contributions, Actual Veggies has secured $2.8M in funding to date.
Manna Tree has announced it is leading a $18mm Series D funding round for the disruptive platform Urban Remedy, the omni-channel, ultra-fresh provider chilled ready-to-eat meals, snacks, cold-pressed juices, and more. Through a proprietary ERP system, Urban Remedy cracked the code on profitable ultra fresh food (i.e. shelf life of one week, often less).
Dedeaux Properties and joint venture partner Brasa Capital Management have sold a fully-leased 73,992-square-foot Class A industrial distribution building in the Inland Empire city of Redlands, California, to LBA Realty, completing the disposition of a brand new two-building complex. The building includes 20,000 square feet of cold storage space with two coolers at 55 and 34 degrees, and is currently leased to In-N-Out Burger.
Atlast Food, the mycelium food company growing the future of plant-based meats, announced a $40M Series A round to develop and supply whole cut plant-based meat to partners around the globe, including directly to consumers through its own brand MyEats.
Gathered Foods, makers of Good Catch plant-based seafood, announced the company has secured $26.35 million in a B-2 bridge funding round with investments from Louis Dreyfus Company (LDC), Unovis Asset Management, Big Idea Ventures, and others. This strategic funding will allow Gathered Foods to further propel Good Catch plant-based seafood to the forefront of the industry, as well as raise awareness for the trajectory of the plant-based industry's market growth and popularity.
Sysco announced it has reduced its outstanding debt by a total of $1.1 billion. The company repaid the remaining $700 million in outstanding borrowings under its long-term revolving credit facility that expires on June 28, 2024. In addition, Sysco’s United Kingdom-based subsidiary, Brake Bros Limited, repaid £300 million of its £600 million in aggregate principal amount of notes outstanding under its commercial paper program, equating to approximately $417 million in debt reduction.
BHI, a full-service commercial bank, announced that its Food & Beverage Group has arranged a total of $61.6 million in two new financing transactions for clients Teasdale Latin Foods and Resnick Distributors.