Califia Farms Grows with $15 Million Lease from CapX

By: Richard C. Bollinger, CPA :: September 26, 2017

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. 

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 true lease structure that facilitated the procurement of new bottling and pasteurization lines to further expand capacity.  

“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.” 

“CapX enjoys working with strong leaders and growing companies. Califia Farms is a familiar household brand, recognized as a market leader across multiple categories,” stated Richard Bollinger, Managing Director at CapX Partners. “The addition of these capital assets will help the company keep up with demand and continue their global expansion.”

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Richard C. Bollinger, CPA, Managing Director

Richard joined CapX Partners in May 2002, bringing a well-rounded depth of experience to financial accounting, taxation and portfolio management. In 2005, Richard opened up the firm’s California office, and is now responsible for business development and underwriting for the West and Southwest portions of the United States. Prior to CapX, Richard worked for KPMG, where he performed financial audit and attestation work for privately held and publicly traded companies. Richard graduated from...