LONDON (dpa-AFX) - ITV plc (ITV.L) announced its latest Media for Equity investment in plant-based meat business THIS, its first investment in a food company.
As part of ITV Adventures Invest, its Media for Equity investment fund, ITV has agreed to subscribe for 1.5 million pounds of shares in Plant Meat Limited, with the option to subscribe for two additional tranches of 1.5 million pounds each, in return for advertising inventory across ITV's channels and ITVX.
UK's fastest-growing food company, THIS was founded in June 2019 by ex-meat fanatics Andy Shovel and Pete Sharman as a plant-based food brand for meat-lovers.
Launched in 2021, ITV AdVentures Invest is a Media for Equity programme which sees ITV take minority stakes in early stage digital and direct-to-consumer businesses, alongside venture capital investment, in return for advertising inventory across ITV's range of market-leading channels and ITVX.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX