Purple Carrot makes US$4m equity investment from Fresh Del Monte company

USA – Purple Carrot, the first and only 100% plant-based meal kit company, has announced that Fresh Del Monte Produce Inc. has made a US$4 million equity investment in the company.

Purple Carrot, which launched in October 2014 out of Levitt’s garage, delivers fresh, pre-portioned ingredients nationwide with simple step-by-step guidance for people to cook distinctive, healthy, plant-based meals at home.

According to the company, the strategic investment brings an infusion of capital as well as leverage to optimize supply chain efficiency, gain access to the developing retail channel, and pursue unique opportunities for category expansion.

“Securing this strategic investment from Fresh Del Monte is a huge validation of our business model, and an important step forward for our company.

Helping people eat more plant-based foods represents our differentiated, purpose-driven commitment to making the planet and the people who live on it healthier,” said Andy Levitt, Purple Carrot’s Founder & CEO.

“This investment by Fresh Del Monte will strengthen our ability to create meaningful and lasting change, improve our core product, and open up a world of possibilities for brand expansion. I couldn’t be happier.”

The growth in plant-based eating is expected to double from 2015 to an estimated US$25 billion in 2020.

Moreover, the meal kit market is projected to grow from US$1.6 billion in 2016 to US$35 billion in 2025.

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