Coca-Cola Israel's Central Bottling Company Ltd. and Israeli food-tech company BioMilk Ltd., which targets the production of cultured milk and cultured human breast milk, have signed a strategic agreement, the companies announced this week.
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According to the terms of the deal, CBC will invest up to $2 million in Biomilk, which will continue its development activities of cultured dairy products, in cooperation with CBC.
This deal is intended to enable the two companies to get ahead of the market of dairy consumers in Israel and around the world, with an emphasis on "cultured" milk produced by BioMilk.
After completing its research and development BioMilk will transfer its products to Tara Dairy, which is fully owned by The Central Bottling Company, for a pilot commercial production.
BioMilk CEO Tomer Aizen said, "We are pleased to enter into a strategic collaboration with a leading company in the food and beverage field with an emphasis on dairy products. BioMilk is the first company in the field of cultured milk to receive a strategic investment from a leading dairy industry player."
