Coffee Industry News: New CFO for Oatly, Seed Funding for Minus, and More

Investment

Marie-Jose David joins Oatly as Chief Financial Officer.

Oatly, a plant-based food company, has appointed Marie-Jose David as its new CFO. David has over 20 years of experience in global finance and leadership, and most recently served as CFO for Mars Veterinary Health International and Pandora Americas. David's appointment is part of Oatly's plans to expand into new markets and pursue profitable growth.

Minus, the ‘beanless coffee’ brand, gets a boost from Amplifica Capital’s seed funding

Mexico City-based venture capital fund Amplifica Capital has invested in California-based beanless coffee brand Minus. Minus uses synthetic biology to make coffee without beans through molecular extraction. The investment is part of Amplifica Capital's focus on sustainable alternatives to coffee, and Minus is expected to generate great returns.

Retail

Cooks Coffee Company plans to expand Esquires UK footprint by 100%

Cooks Coffee Company plans to double the number of its Esquires coffee shops in the UK to 100 within the next three years. The company reported record revenues in the UK and Ireland in 2022, but its full-year results showed a 10% drop in sales and widening pre-tax losses. Cooks Coffee Company is considering further UK acquisitions to create a "house of brands" and add scale and shareholder value.

Sustainability

4C is now recognized by GCP as a sustainable coffee standard

The Global Coffee Platform (GCP) has officially recognized 4C as equivalent to the Coffee Sustainability Reference Code (Coffee SR Code) in the category of third-party assurance. 4C is an independent, internationally-recognized sustainability standard for the coffee industry that provides third-party audits for companies looking to comply with environmentally-conscious operations.

Sucafina's IMPACT program is now recognized by the GCP

The Global Coffee Platform (GCP) has recognized Sucafina's responsible sourcing program, IMPACT, as equivalent to the Coffee Sustainability Reference Code (Coffee SR Code). This means that IMPACT coffee is produced and processed in accordance with global sustainability standards. IMPACT was developed in line with the Coffee SR Code, which was created by the GCP to standardize principles and best practices for sustainable coffee production.