TIDMANIC
Agronomics Limited
25 June 2021
Agronomics Limited
("Agronomics" or the "Company")
Portfolio Company LIVEKINDLY Launches in China with Two New
Brands
Agronomics, a leading listed investor in alternative proteins
with a focus on cellular agriculture and cultivated meat, is
pleased to announce that portfolio company LIVEKINDLY Collective
("LIVEKINDLY") has launched in China with two new brands created
exclusively for Chinese consumers by Chinese food experts.
Agronomics currently holds 1.0% equity interest in LIVEKINDLY on a
fully diluted basis.
The full announcement is set out below with no material changes
or adjustments:
25 June 2021
LIVEKINDLY Collective Launches in China with Two New Brands
Created Exclusively for Chinese Consumers by Chinese Food
Experts
NEW YORK & BEIJING--( BUSINESS WIRE )--LIVEKINDLY
Collective, a collection of brands on track to become one of the
world's largest plant-based food companies, today announced its
launch in China with two new flagship brands, Giggling Pig [Ge Ji
Zhu] and Happy Chicken [Ha Pi Ji]. Both have been developed and
manufactured locally to cater to Chinese consumer tastes and are
the first brands created in-house by LIVEKINDLY Collective.
The two new brands cover a portfolio of seven innovative
plant-based products based on beloved Chinese dishes, including
plant-based dumplings, several mushroom-based dishes and a seasoned
minced dish.
These new products will be available across China on June 25.
Both brands are targeted at Gen Z, with two adorable cartoon
characters, Giggling Pig and Happy Chicken, whose message is that
consumers can enjoy great taste, excellent nutrition and a modern
twist on heritage cuisine by eating plant-based food. China's
plant-based market was nearly $1 billion in 2018, according to the
Good Food Institute , and is projected to grow between 20 and 25%
annually.
"China is one of the most exciting and strategic markets for the
plant-based revolution, and a key pillar of our growth strategy,"
said Kees Kruythoff, CEO and Chairman of LIVEKINDLY Collective. "We
are proud to launch these new flagship brands, which have been
developed and manufactured for Chinese consumers, by Chinese
experts. As we say: China for China, and at China speed."
"We're coming off a phenomenal first year, having become one of
the top three highest-funded and fastest-growing plant-based food
companies in the world," said Roger Lienhard, Founder and Executive
Chairman of Blue Horizon Group and Founder of LIVEKINDLY
Collective. "Our portfolio and model are global, and with the
launch of our China office and delicious new products, we are
closer than ever to achieving our mission of making plant-based
living the new norm."
Since March 2020, in its first 12 months, LIVEKINDLY Collective
has raised $535 million to fund its international expansion into
China and other growth regions, as well as the company's strategic
acquisitions, partnerships and investments in plant-based
innovation.
In addition to the newly created Giggling Pig and Happy Chicken,
LIVEKINDLY Collective has five plant-based food brands in its
portfolio - Oumph! , The Fry Family Food Co. , LikeMeat , No Meat ,
and The Dutch Weed Burger - as well as digital media company
LIVEKINDLY .
"We are thrilled to launch in China with these incredible brands
and delicious innovative products that we have crafted from
scratch, in China for China," said Joanna LiuQiao, Regional
Director, Greater China at LIVEKINDLY Collective. "China has a long
history in plant-based cuisine and has been cooking with
ingredients like seitan, tofu and tempeh well before it was
mainstream. We understand what works and doesn't work for this
market, and our new brands are delicious, high-quality and tailored
to local consumer tastes."
Today also marks the adoption of China's first standard for
labelling " plant-based meat products ," which are now defined as
food products that use plant-sourced materials or their processed
products as sources of protein or fat. This standard, issued by the
Chinese Institute of Food Science and Technology ("CIFST"), signals
the rapid growth in demand for plant-based meat in China.
About LIVEKINDLY Collective
LIVEKINDLY Collective was founded by Blue Horizon Group on the
belief that plant-based alternatives have the power to make the
global food system sustainable. Its mission is to make plant-based
living the new norm. As a collective of founders, entrepreneurs and
business leaders from across the globe, LIVEKINDLY Collective is
uniquely positioned to create impact with speed, at scale. Through
its portfolio of brands, Oumph! , The Fry Family Food Co. ,
LikeMeat , No Meat , and The Dutch Weed Burger , LIVEKINDLY
Collective is providing consumers around the world with healthy,
sustainable, delicious food options. Furthermore, the company is
the voice of the plant-based movement, communicating informative,
entertaining and inspiring content through its media and lifestyle
platform, LIVEKINDLY, at www.livekindly.com and @livekindlyco on
Instagram. LIVEKINDLY Collective has 500 employees and sells in
more than 40 countries around the world. To learn more, visit
www.thelivekindlyco.com .
About Agronomics
Agronomics is a leading listed alternative proteins company with
a focus on cellular agriculture and cultivated meat. The Company
has established a portfolio of 16 companies at the Seed to Series B
stage in this rapidly advancing sector. It seeks to secure a 5-10%
initial ownership in technologies with defensible intellectual
property that offer new ways of producing food and materials with a
focus on products historically derived from animals. These
technologies are driving a major disruption in agriculture,
offering solutions to improve sustainability, as well as addressing
human health, animal welfare and environmental damage. This
disruption will decouple supply chains from the environment and
animals, as well as being fundamental to feeding the world's
expanding population. A full list of Agronomics' portfolio
companies is available at https://agronomics.im/portfolio/ .
About the Cultivated Meat Sector
Funding in the cultivated meat sector is growing rapidly with
approximately US$ 170 million invested worldwide between 2016-2019
and over US$ 270 million raised in 2020 alone. Additional
financings are anticipated as the capital requirements of these
companies grows to build out and scale up manufacturing facilities.
Currently it is estimated that there are 80 companies globally
within the sector. AT Kearney, a global consultancy, has predicted
that Cultivated Meat's market share of meat consumption will be 35%
by 2040.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via a Regulatory Information
Service ('RIS'), this inside information is now considered to be in
the public domain.
For further information please contact:
Agronomics Beaumont Cenkos Peterhouse TB Cardew
Limited Cornish Limited Securities Capital
Plc Limited
The Company Nomad Joint Broker Joint Broker Public Relations
------------------ --------------- --------------------- ------------------------
Richard Reed Roland Cornish Giles Balleny Lucy Williams Ed Orlebar
Denham Eke James Biddle Nick Searle Charles Goodfellow Joe McGregor
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+44 (0) 20
7930 0777
+44 (0) 1624 +44 (0) 7738
639396 +44 (0) 207 +44 (0) 207 +44 (0) 207 724 630
info@agronomics.im 628 3396 397 8900 469 0936 agronomics@tbcardew.com
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