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January 15, 2021

Australia’s Health and Plant Protein Group invests in Lavva alt-yogurt owner EVR Foods

EVR Foods, the holding company behind US plant-based yogurt brand Lavva, has attracted investment, including from a recently refocused Australian food manufacturer.

By Dean Best

Refocused Australian food manufacturer Health and Plant Protein Group has invested in EVR Foods, the holding company behind US plant-based yogurt brand Lavva.

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
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Health and Plant Protein Group, also known as HPP, has spent US$300,000 on convertible promissory notes issued by the US firm, which sells plant-based dairy products at US grocers including Whole Foods and Wegmans.

HPP’s backing for Lavva is through a co-investment package with US venture-capitalist S2G Ventures, which also bought $300,000 of notes issued by the New York-based firm.

Under the terms of the deal, HPP and S2G Ventures can on an exclusive basis conduct due diligence in Lavva with a view to potentially entering into an agreement that could ultimately see them buying a controlling stake in the US business. HPP would assume management control of Lavva.

Dennis Lin, HPP’s executive director, said: “The investment in Lavva is consistent with our core strategy of building HPP, including through the high-growth categories of plant-based milk and yogurt.”

He insisted HPP and S2G Ventures believe together they can “continue to grow Lavva through our expertise in supply-chain development and management, the strong potential of incorporating macadamia ingredients into [the] Lavva nutrition concept and introducing Lavva to customers in Australia and Asia within a short time-frame”.

Australia and Asia have "a growing appetite for wholesome nutrition with great provenance", he added.

Liz Fisher, who set up the Lavva business in 2014, said HPP "can clearly bring insight to our business and help us fully realise the brand's potential". She said she is aiming to "making Lavva one of the world's best and leading clean-label, plant-based yogurt and dairy brands".

Until November, HPP was known as Buderim Group, the long-standing Australian supplier of ginger and macadamia products. In September, the company sold its ginger division – consisting of confectionery and other ginger-based products, including tourist-related assets – to the Himstedt family.

HPP has operations in Australia, the US and Fiji, including MacFarms, which is based on the island of Hawaii and manufactures macadamia-based products for the retail and foodservice channels under the Royal Hawaiian brand.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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