Califia Farms Grows with $15 Million Lease from CapX
Califia Farms contacted CapX as the company looked to expand its state-of-the-art, intelligently designed distribution and bottling plant located in Bakersfield; known as the heart of California’s agricultural center. CapX provided a $15M true lease structure that facilitated the procurement of new bottling and pasteurization lines to further expand capacity.
Los Angeles-based Califia Farms was founded in 2010 by beverage visionary Greg Steltenpohl. It is now one of the fastest-growing beverage companies in the U.S. and named one of the most innovative consumer brands of 2016 by Forbes magazine. Renowned for having the best-tasting, plant-based beverages on the market, Califia has become the number one nutmilk and refrigerated RTD coffee brand in the natural channel by creating innovative, healthy and great-tasting premium beverages that make it easy for consumers to go ‘plant-powered,” without compromise.
“The demand for Califia Farms’ great-tasting, premium plant-based beverages has grown significantly year-over-year", added Demir Vangelov, Chief Financial Officer at Califia Farms. "In order to meet the growing demand, we needed to build two new production lines, which required a significant investment and has resulted in tripling our output capacity at our Bakersfield plant. We appreciate CapX Partners’ willingness to work with growing companies like ours and their flexible financing options.”