Health and Plant Protein Group (ASX:HPP) buys up controlling interest in LAVVA brand

• 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

Read the full article on The Market Herald here.