Miyoko’s Creamery Is Raising Funds, Preparing for Potential Sale

Vegan butter and cheese company Miyoko’s Creamery is raising $12 million and preparing for a potential sale of the business, according to documents viewed by Bloomberg News.

The Petaluma, California-based company is executing a “financial stabilization plan” in an attempt to place itself “on a path to profitability and open doors to a range of strategic alternatives, including selling the business,” Chief Executive Officer Stuart Kronauge told shareholders in a Nov. 10 letter.

The company has “run at large deficits for many years,” she wrote.

Kronauge was named CEO in August, following a tumultuous period at the company that ...