The deal is valued at $220 million in cash proceeds.

The alternative meat producer’s funding round was led by Tengelmann Growth Partners.

PNC Riverarch Capital focuses on businesses with specialized manufacturing and value-added distribution.

Food tech company partners with Alibaba-backed firm.

Firm focused on ‘seed-to-fork’ investments.

Company divests 11 categories with estimated revenues of $1.6 billion.

Investindustrial also picks up Parker Food Group for undisclosed sum.

The tea assets sold had approximately $2.1 billion sales in 2020.

Former Tyson Foods CEO to lead company.

Advisory board includes former CEOs of McCormick and Aryzta Americas.