BEVERLY HILLS, Calif., Nov. 28, 2016 (GLOBE NEWSWIRE) -- Barfresh Food Group, Inc. (OTCQB:BRFH), a manufacturer of frozen, ready-to-blend beverages, today announced a strategic investment of $10 million by Unibel, the parent company of Fromageries Bel, known as Bel Group. The Bel Group is headquartered in Paris, France, with global operations in 33 countries, 30 production sites on 4 continents and nearly 12,000 employees. Its many branded products, including The Laughing Cow ®, Mini Babybel ® and Boursin ®, are sold in over 130 countries around the world. Under the terms of the transaction, Unibel will acquire 15,625,000 shares of common stock at $0.64 per share for $10 million, along with warrants to purchase another 7,812,500 shares exercisable in cash only for $0.88 per share. The warrants could result in additional proceeds to Barfresh of $6,875,000. Unibel will also be granted a seat on the Board of Directors of Barfresh. "We are very excited to welcome Unibel and Bel Group, a recognized global leader in innovation, branding, retail and manufacturing, as a long term investor and strategic partner," said Riccardo Delle Coste, CEO of Barfresh. "This strategic investment provides Barfresh with the necessary capital to drive revenue growth while leveraging Unibel's more than 150 years of industrial expertise, innovative capabilities, world-class marketing and branding expertise to accelerate our growth in new and existing markets and product channels." "We are very enthusiastic to become a strategic investor for Barfresh," said Antoine Fievet, Chairman of the Unibel Executive Board. "Barfresh products bring an innovative offering to the Smoothies market, with high growth potential. This investment is in line with our global healthy snacking strategy, and we look forward to working with Barfresh management to accelerate the company's development." Stifel and Rabo Securities USA, Inc. served as co-financial advisors and co-financing agents to Barfresh, while Libertas Law Group served as its legal counsel. Unibel received legal counsel from Dechert LLP.