October 15, 2020

By Lynda Kiernan, Global AgInvesting Media

LIVEKINDLY is a multi-brand plant-based food platform launched in March of this year with $200 million in founders’ funding committed by a consortium of founders, entrepreneurs, and global industry leaders, and a mission to transform the global food system. 

Only seven months later, the LIVEKINDLY Collective has announced the raising of another $135 million led by Blue Horizon Corporation. Also participating in the round was an Asia-based investor syndicate led by Trustbridge Partners and global investment organization EQT, along with Griffin Foods, and other existing shareholders.

The leadership team at the helm of this new platform includes chairman and CEO Kees Kruythoff, who was the former president of Unilever North America and Global Home Care Division; founder and board member Roger Lienhard, who is the founder of food tech investment firm Blue Horizon Corporation; and CEO and founder of LIVEKINDLY Media, Jodi Monelle.

Other food industry veterans on the management team are chief marketing officer Mick Van Ettinger, who was formerly with Unilever as advertising manager and executive vice president of tea; and COO and chief R&D officer Aldo Uva, formerly with Nestlé, Firmenich, and Ferrero.

“The LIVEKINDLY Co.’s approach offers a path forward for transforming the global food industry,” said Lienhard in March. “Our team has built a new formula for success by bringing innovation, experience, resources, and scale throughout the plant-based chicken value chain.”

“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 collective’s initial goal is to disrupt the global meat industry as it grows into “one of the highest funded plant-based food companies globally”.  

“Unlike any other company in this space, the LIVEKINDLY co. is creating a movement that will drive impact at scale and at speed,” said LIVEKINDLY Collective Chairman and CEO Kees Kruythoff in March. “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.”

To-date, the platform has made five international deals that include The Fry Family Food Co. – one of the world’s pioneering vegan companies, founded in 1991; LikeMeat, the fastest growing meat alternative brand in Germany with distribution across 10 EU countries;  Puris Holding, a vertically integrated leader in non-GMO, plant-based ingredients; and frozen plant-based meat alternative and pizza brand Oumph!. 

“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,” said David Knopf, CFO, LIVEKINDLY Collective.

The capital secured through this round will largely be used to increase capacity and accelerate the 2021 U.S. launch of these portfolio brands – bringing them beyond their current markets in the EU, Africa, and Australia.

“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 Knopf. 

This round will not only be used to drive the collective’s existing portfolio brands, but to continue to expand with more acquisitions before the end of this year.

Global protein consumption is expected to climb at a compounded annual growth rate (CAGR) of 1.7 percent, reaching 943 million tons by 2054, according to Lux Research. Over this same time period, alternative protein sources are forecast to command up to a third of the protein market as they fill the void created by slowing growth in meat and seafood production, and demand shifts within the consumer market.

And as these shifts become more of a mainstream consciousness, LIVEKINDLY stated that  plant-based protein alternatives have the potential to reach 9 percent of the global meat market, estimated to be valued at $2.7 trillion by 2040. 

“We see significant investor interest increasing around our movement,” said Kruythoff. “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.”

– Lynda Kiernan is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, and HighQuest Group’s Oilseed & Grain News. She is also a contributor to the GAI Gazette. She can be reached at lkiernan@globalaginvesting.com.