Freedom Foods Group will pay $US35 million ($48 million) under a settlement of a court case brought by a key supplier, California-based Blue Diamond Almond Growers, which will allow it to keep selling its growth brand Milklab.
The plant-based drinks and UHT milk manufacturer will now issue a second tranche of convertible notes to pay the hefty settlement – which was more than double initial expectations.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
