Key Takeaways
- Pluri acquired a 71% equity interest in Kokomodo Ltd. for $4.5 million, paid in common shares.
- Kokomodo will operate as an independent subsidiary under the company’s corporate structure.
- The acquisition aims to advance sustainable cultivated cacao production.
- Leadership at Kokomodo, including CEO Tal Govrin, remains unchanged following the transaction.
- The company continues to expand its biotechnology platform into the AgFoodTech sector.
Pluri Finalizes Strategic Acquisition of Kokomodo
Pluri Inc. (Nasdaq: PLUR) (TASE: PLUR) announced the completion of the acquisition of approximately 71% of Kokomodo Ltd., a company specializing in cultivated cacao production. The transaction, valued at $4.5 million, was paid through the issuance of 976,139 common shares of Pluri. Kokomodo will continue to operate independently as a subsidiary while maintaining its existing leadership, mission, and brand identity.
Tal Govrin, CEO and Co-Founder of Kokomodo, commented on the transaction: “Scaling breakthrough innovation in food requires both technological expertise and market reach. By teaming up with Pluri, we believe that we will gain the ability to accelerate our production capabilities, expand globally, and remain true to our founding mission.”
Expands Biotechnology Platform into AgFoodTech
Through the acquisition, Pluri seeks to integrate Kokomodo’s cultivated cacao technology into its broader biotechnology ecosystem. Pluri specializes in scalable and cost-effective cell-based solutions, and the addition of Kokomodo is expected to enhance the company’s efforts in sustainable food production.
Yaky Yanay, Chief Executive Officer and President of Pluri, stated: “With the closing of this strategic acquisition, we believe that we are uniquely positioned to lead innovation in the cultivated cacao sector. This acquisition advances our mission of transforming global food systems through biotechnology.”
The move aligns with Pluri’s broader strategy to address challenges in traditional agriculture, including climate change impacts and the growing demand for sustainable food products.
Pluri Aims to Strengthen Position in Sustainable Food Solutions
Kokomodo’s focus on cultivated cacao is designed to provide more sustainable, consistent, and adaptable products compared to traditional farming methods, which are increasingly vulnerable to environmental pressures. By leveraging Pluri’s proprietary cell-production platform, the companies aim to accelerate the development and scalability of cacao alternatives that meet evolving consumer demands.
The acquisition highlights Pluri’s continued effort to create a network of ventures that use biotechnology to advance innovation in multiple sectors, including food, health, and sustainability.
