Health and Plant Protein Group buys up controlling interest in LAVVA brand

Dennis Lin The Australian 2

Executive Director, Dennis Lin. Image source: The Australian

  • Health and Plant Protein Group (HPP) is set to snap up a 24 per cent interest in U.S.-based EVR Foods through a US$5 million (roughly A$6.4 million) investment
  • HPP will invest in EVR Foods, which owns the LAVVA clean yoghurt and milk brand, alongside investment partner S2G Ventures
  • The investment was initially flagged in January 2021 when HPP and S2G bought $300,000 worth of convertible notes in LAVVA
  • Now, following some important due diligence, the companies have agreed to a larger investment that gives HPP and S2G a controlling 60.5 per cent interest in LAVVA
  • HPP Executive Director Dennis Lin says the investment is a milestone in the company’s transformation into a “plant protein-focused enterprise”
  • Dennis has been appointed to the LAVVA Board of Directors and will help drive growth in the business with plans to expand into Australia and Asia
  • At the same time, HPP Chairman Guy Cowan has flagged his own plans to step down from his position and allow HPP to expand its board experience
  • Shares in HPP are up a slight 1.45 per cent today and trading at 35 cents per share

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