Kombucha and plant-based food specialist secures £26m from innovation investment firm

A company that specialises in healthy food alternatives has secured multi-million pound funding from a retail and consumer innovation and investment firm.

Soulfresh, which operates 11 brands across fermented beverages, plant-based foods and drinks, has secured £26m from London-based investment firm True.

Brands within Soulfresh’s portfolio include kombucha Lo Bros, plant-based milk alternatives Nutty Bruce, organic vegan chocolate Pico and plant-based meat alternative Eaty.

Didi Lo, CEO and founder of Soulfresh, commented: “We have been looking for the right partner to take our fast growing, innovative global business to the next level and have found that in True.

“Matt and his team are genuine entrepreneurs and not only have the retail and consumer expertise but are a great cultural fit for Soulfresh.

“At Soulfresh, we are passionate about innovation, growth and championing healthy food and drinks for the mainstream, and in True we have found a partner who believes in the scale of the opportunity these market shifts provide. We are delighted to be working with them for the next phase of our journey.”

The investment from True will see the investment firm manage a new commitment from Soros Capital Management, Robert Soros’ Family Office, leveraging Soros’ network and asset base to help Soulfresh accelerate its ambitions.

Matt Truman, co-founder and CEO of True, added: “At True we invest in business models that are at the forefront of consumer behavioural shift. Soulfresh is at the epicentre of the global health, wellness and sustainability mega-trends with a focus on R&D and innovation that is market-leading.

“Our unique business model will allow us to genuinely add value for Didi and his team who have built a fantastic platform of brands with potential for rapid growth.”

“We are delighted to welcome Soros as an investor, and to have also secured Ben Clarke as chairman and together are excited to be partnering with the Soulfresh team for the next phase of growth.”

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