Krave Jerky Receives Investment
Alliance Consumer Growth capital infusion support continued expansion
Published in CSP Daily News
SONOMA, Calif. -- Krave Jerky, maker of natural, high-protein snacks, said that it has received a significant minority growth capital investment from leading consumer-focused private-equity fund Alliance Consumer Growth. ACG's investment will enable Krave to further accelerate nationwide distribution of its products, expand new product innovation and continue to generate consumer awareness and trial.
Founded in 2010, Krave is an emerging healthy snack food company based in California's wine country that is part of the renaissance of the meat snacks category. The company currently makes and markets a line of eight "better-for-you" jerky products using premium-quality cuts of all-natural beef, pork and turkey. Krave offers chef-inspired flavors such as sweet chipotle, chili lime, pineapple orange and lemon garlic, which appeal to a broad consumer base.
Krave's products are artisanally produced and made in the United States with domestic protein sources.
"We're thrilled to announce our partnership with ACG and are looking forward to the next stage of growth for the brand," said Jonathan Sebastiani, founder and CEO of Sonoma, Calif.-based Krave. "We believe with this investment, we can continue to build on the brand's momentum and take Krave to the next level. In addition, ACG's experience in the retail and food industries, marketing expertise and support for our brand vision make them the ideal investment partner for us as we continue our rapid growth."
Julian Steinberg, managing partner of ACG, said, "Krave is an authentic and unique company, run by a fantastic team, that is disrupting a huge category. It is a perfect example of the type of pioneering, high-growth brand in which we seek to invest."
ACG, based in New York, is a private-equity fund which provides growth capital and value-added partnership to the most promising young consumer brands. Current investments include BabyGanics, The Honest Kitchen, EVOL Foods and Krave Jerky. Prior investments by ACG principals include Plum Organics and DenTek.