Fundraising

Now almost 40 years in, CPG focused private equity shop Brynwood Partners gave a clear signal today that it isn’t anywhere near done with its business model of buying and retrofitting well-known brands for a second run at success.

Better-for-you Mexican food brand Tia Lupita has closed a $2.6 million funding round led by Santatera Capital and GBM Ventures to support product innovation and expansion into new markets. The entire round was raised by Mexican investment institutions.

Eat the Change (ETC) has brought in another $14 million in growth capital to fuel its quest of changing consumers’ eating habits by widening distribution of Just Ice Tea and further testing its Cosmic Chews snacks.

Bakery brand Hero Bread announced today it has closed $15 million in funding to help the brand meet consumer demand and fuel future product innovation. The capital raise comes as the San Francisco-based brand shifts its focus to physical retail.

Tinned seafood may be having a moment, but Scout Canning believes it can give the category more than its fifteen minutes of fame. The Canadian company announced today the closing of $4 million in funding to fuel distribution growth and launch of new products designed for a broader audience.

Female PoC-owned sparkling water brand Droplet activated a crowdfunding campaign this month on NuAMP, a new platform dedicated to connecting PoC founders with various forms of capital. Created in collaboration with community fundraising platform NuMarket and AMP, a tech company connecting PoC founders with funding resources, the NuAMP program debuted with seven active crowdfunding campaigns to support diverse founders across the country

Keto-focused snack brand Fat Snax will have more support as it pushes further afield into brick and mortar retailers this year. The company announced today that it has raised $4.5 million from venture group Boulder Food Group (BFG), along with investment firm BIGR and some individual investors.

In the next installment of Sauce in the City, Catherine Smart, founder of Not Just Co, explores how she went about raising capital for her fledgling food company.

Despite having enjoyed rapid growth while under the auspices of CPG giant Campbell’s, breakfast brand The Soulfull Project announced this week that it would spin-off as a unique entity. The shift in ownership comes as Campbell’s refocuses on its core businesses.