TIDMANIC
RNS Number : 0111G
Agronomics Limited
13 March 2020
13 March 2020
Agronomics Limited
("Agronomics" or the "Company")
Portfolio Company Foods United Announces Rebranding as the
LIVEKINDLY co., Raises US$ 200 Million to Invest in Plant-Based
Chicken Substitutes
The Board at Agronomics is pleased to confirm that Foods United,
a major holding, has completed its US$ 200 million financing and
rebranded as the LIVEKINDLY co "LIVEKINDLY". LIVEKINDLY is building
its portfolio of brands that offer plant-based chicken
alternatives, including The Fry Family Food Co and LikeMeat. As a
result of this fundraise, the Company's expects its equity interest
in LIVEKINDLY co. to be 1.5%.
The complete announcement is set out below without material
changes or adjustments.
New York, NY // MARCH 11, 2020 -The LIVEKINDLY co. is leading a
movement to build a sustainable future, today, fueled by a
$200-million founders' funding round led by founders,
entrepreneurs, and global leaders. Establishing a collective of
heritage and start-up brands, the company is on track to become one
of the world's largest plant-based food companies.
Brands under the LIVEKINDLY co. portfolio offer consumers
non-GMO, plant-based chicken alternatives and include: The Fry
Family Food Co. and LikeMeat, as well as the fastest-growing
plant-based digital media platform, LIVEKINDLY Media-from which the
new company name derives and means embracing a sustainable and
compassionate lifestyle. With these investments and an equity stake
in PURIS Holding, a vertically integrated player of non-GMO,
plant-based ingredients, the LIVEKINDLY co. is the only company in
the plant-based food sector to own and operate the entire value
chain of production.
The LIVEKINDLY co. is committed to transforming the global food
system by partnering with forward-looking poultry production
companies seeking to embrace and contribute to plant-based options.
Products offer consumers recognizable natural ingredients made with
environmentally friendly meat alternatives that mimic the taste and
texture of chicken.
Plant-based food products are becoming increasingly popular as
consumer demand for cleaner, more sustainable options grow, and
production technologies improve to significantly enhance taste and
texture. The plant-based protein market could reach 9% of the
estimated $2.7 trillion global meat market by 2040-positioning the
LIVEKINDLY co. for strong future growth.
Leading the LIVEKINDLY co. is a global team of industry
executives including Kees Kruythoff, Chairman & CEO (formerly
President Unilever North America and Global Home Care Division);
and Roger Lienhard, Board of Directors and Founder (founder of Blue
Horizon Corporation). The leadership team also includes veterans of
the food and industry: Mick Van Ettinger, Chief Marketing Officer
(formerly of Unilever), and Aldo Uva, COO and Chief R&D Officer
(formerly of Nestle, Firmenich, and Ferrero), and Jodi Monelle, CEO
and Founder LIVEKINDLY Media.
"Unlike any other company in this space, the LIVEKINDLY co. is
creating a movement that will drive impact at scale and at speed,"
said Kruythoff. "We are starting with one of the world's most
consumed meats-chicken by providing outstanding, tasty, plant-based
foods that are more sustainable and environmentally friendly. We're
also partnering with incumbent poultry companies including PHW in
Europe and RCL Foods in South Africa, who are committed to
embracing plant-based options."
"The LIVEKINDLY co. 's approach offers a path forward for
transforming the global food industry. Our team has built a new
formula for success by bringing innovation, experience, resources,
and scale throughout the plant-based chicken value chain," said
Lienhard. "It started with bringing together like-minded founders
who share a vision for smarter, sustainable living, and allows the
food industry to better align around the evolving values of
consumers who are focused on climate change, animal welfare, and
human health."
The founders' round of funding will be used for further
acquisitions, scaling the current plant-based food portfolio of
brands and investments to rapidly increase the plant-based food
industry capacity.
About the LIVEKINDLY co
The LIVEKINDLY co. is a collective of plant-based heritage and
start-up brands including: The Fry Family Food Co., LikeMeat, and
LIVEKINDLY Media. Committed to transforming our global food system
and the only company in the plant-based food sector to own and
operate the entire value chain of production, the LIVEKINDLY co.
has established strategic partnerships with seed growers,
producers, distributors, and has invested in infrastructure to
transform traditional meat production facilities to plant-based
products. The LIVEKINDLY co. and its portfolio of brands are
creating delicious plant-based food without the need for animals or
the depletion of natural resources. We're bringing kindness where
it belongs: to your plate.
About Blue Horizon Corporation
Blue Horizon was founded in 2015 with the vision that
profit-oriented strategies and the common good can be united. Blue
Horizon is a global-mission-driven private sector investment firm
focused on scalable ventures that accelerate that global transition
towards sustainable food and agriculture.
About Agronomics
Agronomics is an AIM-listed investment company focused on the
nascent field of cellular agriculture, precision fermentation and
synthetic biology, with an emphasis on improving the efficiency and
sustainability of current supply chains, with a focus on
eliminating the requirement of animals to meet our resources
absolute. The Company was launched in April 2019, with the
appointment of a highly experienced team of investors and
entrepreneurs including Richard Reed, Jim Mellon and David
Giampaolo.
Agronomics believes that we are on the cusp of the most
significant disruption in our global food system, which will be
fundamental to feeding the world's growing population as it
approaches 10 billion people by 2050. The transformation of the
food production system through utilisation of synthetic biology is
a viable solution to improve the health and wealth of the planet
and the global population, by reducing energy, water and land
requirements.
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:
Agronomics Limited Beaumont Cornish Limited Zeus Capital Limited Peterhouse Capital Limited
The Company Nomad Joint Broker Joint Broker
Richard Reed Roland Cornish Rupert Woolfenden Lucy Williams
Denham Eke James Biddle Emma Ayton Charles Goodfellow
+44 (0) 1624 639396 +44 (0) 207 628 3396 +44 (0) 20 3829 5000 +44 (0) 207 469 0936
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END
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