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April 17, 2020

The Coconut Collaborative gets funding from PowerPlant Ventures

UK-based dairy-free business The Coconut Collaborative has revealed fresh investment and a new identity.

By Leonie Barrie

UK dairy-free business The Coconut Collaborative has received investment from US private-equity firm PowerPlant Ventures.

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PowerPlant Ventures, which has previously invested in US tortilla chips business Beanfields Snacks and alt-meat company Beyond Meat, has backed the London-based business to the tune of US$7m.

The Coconut Collaborative, which also announced it will be known as The Collaborative in the future, said it has hired former Sabra Dipping Co. executive Meiky Tollman as its new CEO.

The Collaborative was launched in its former guise in 2014 by James Averdieck, who set up UK desserts business Gü in 2003 before selling that company seven years later.

Averdieck added the US to The Collaborative’s roster of markets in 2017 and, after achieving initial listings with US grocer Wegmans, the firm opened an office in Los Angeles in 2018. It is unclear if Averdieck still has a role with the business. 

In a statement announcing PowerPlant Ventures’ investment, Rampolla, the private-equity firm’s co-founder and partner, said: “At PowerPlant we are constantly on the lookout for plant-based food brands that are providing an answer to consumer demands and challenging the status quo. The Collaborative is doing that as a remarkable brand with a premium breadth of products that combine wholesome goodness, great taste which is equivalent to or better than dairy alternatives, low sugar, and better-for-you ingredients.”

Tollman, most recently Sabra Dipping Co.’s executive vice-president, international and corporate development, added: “For me, coming to The Collaborative is motivating and inspiring to work with one of the fastest-growing category growth drivers of plant-based products on the market that is also purpose-driven.”

just-food approached Averdieck and Rampolla for comment.

Related Companies

Free eBook
img

How a connected workforce increases retention and engagement

Recruiting new employees and engaging current ones in a modern, dynamic, and inclusive working environment will go a long way towards their job satisfaction. Traditionally, manufacturing or other factory workers have been at the tail-end of digitalisation and other technical aids to do their jobs efficiently. No more. Companies around the world have woken up to the fact that if they spend a little effort on addressing cultural concerns of their employees, the benefits are a multiple of any investment. This whitepaper provides pathways for firms to give workers more job satisfaction by having them participate at work in myriad ways.
by Redzone
Enter your details here to receive your free eBook.

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