Barfresh Food Group, a frozen, ready-to-blend beverages manufacturer, has received strategic investment of $10m from cheese manufacturer Unibel.

Unibel is the parent company of Fromageries Bel (Bel Group), which is headquartered in Paris, France. The Bel Group operates 30 production sites across 33 countries and has 12,000 employees.

The company manufacturers products such as Laughing Cow, Mini Babybel and Boursin, which are sold in more than 130 countries.

"We are very enthusiastic to become a strategic investor for Barfresh."

Under the terms of the deal, Unibel will acquire 15.63 million shares of common stock at $0.64 per share for $10m, along with warrants to buy an additional 7.81 million shares exercisable in cash only for $0.88 per share.

The warrants might provide additional proceeds of $6.88m to Barfresh.

Besides, Unibel will be offered a position on the board of directors of Barfresh.

Barfresh chief executive officer Riccardo Delle Coste said: “We are very excited to welcome Unibel and Bel Group, a recognised global leader in innovation, branding, retail and manufacturing, as a long term investor and strategic partner.

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“This strategic investment provides Barfresh with the necessary capital to drive revenue growth while leveraging Unibel’s more than 150 years of industrial expertise, innovative capabilities, world-class marketing and branding expertise to accelerate our growth in new and existing markets and product channels.”

Unibel executive board chairman Antoine Fievet said: “We are very enthusiastic to become a strategic investor for Barfresh.

“Barfresh products bring an innovative offering to the Smoothies market, with high growth potential. This investment is in line with our global healthy snacking strategy, and we look forward to working with Barfresh management to accelerate the company’s development.”

Barfresh Food Group produces ready-to-blend beverages such as smoothies, shakes and frappes for restaurant chains and the foodservice industry.