China-based pork substitute products developer Green Monday Holdings has raised $70m in funding from investors including conglomerate Swire Pacific and food company Lee Kum Kee (LKK) Health Products, TechCrunch reported yesterday.
TPG’s Rise Fund, CPT Capital, Jefferies Group, Sino Group’s Ng Family Trust and private investors Wang Leehom, James Cameron and Mary McCartney also contributed to the round. LKK Health Products took part through its Happiness Capital division.
Green Monday Holdings, a part of vegetarian advocacy organisation Green Monday Group, produces pork alternatives and frozen meals through its OmniFoods brand. It also runs a retail and restaurant arm for plant-based products called Green Common.
The capital will go towards an expansion into 10 markets across Asia, Africa, Europe, the Middle East and North America. The company will also launch new flagship stores in China and Singapore, and add 20,000 retail outlets.
David Cogman, development director of Swire Pacific, said: “Our airline Cathay Pacific has been serving OmniPork onboard and we look forward to working together further to develop new menus to suit the taste of our passengers – many of whom have a deep interest in health, wellness and environmental sustainability.
“We are also in discussion about working together on the retail front: we have a network of malls, hotels and food and beverage businesses in Hong Kong and on the Chinese mainland, as well as associated supply chain operations across the country.
“We are very excited about our partnership with David and Green Monday to develop new collaborations across our group companies, to make our shared vision a reality.”
LKK Health Products was described as a returning backer by TechCrunch, but details about Green Monday Holdings’ earlier financing could not be ascertained.
