Vermont Baker Was Acquired Collected $35 Million From Celebrity Investors.
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- In January 2021, Mondelez International acquired Hu Master Holdings, known for its paleo chocolate, snacks, and restaurants in New York, for $340 million.
Some might think it’s a good time for a busy entrepreneur to relax, but Hu’s former chairman and co-founder, Jason H. Carp, is about to take the next step: introducing mission-led HumanCo, which he did in 2019 with Ross Berman. Before investing in Mondelez.
Austin-based HumanCo, the parent company for sustainable and Vermont Baker easy-to-use consumer product brands. Today announced the completion of a $35 million bridge that includes total funding of up to $50 million. At the same time, We announced the acquisition of a majority stake in the Vermont-based family business Against Grain. Which makes pizza, gluten-free pizza, bread, and cake mixes. The purchase price was not disclosed.
“Humana is the pinnacle of everything I’ve done,” Karp said in an interview before Vermont Baker the announcement. “I feel like my goal in life is to make it easier to create products that help people live healthier lives.”
“We’re trying to create a one-stop-shop for people looking for healthier options,” adds Carp. They founded Hu with his wife and brother-in-law after discovering that the grain-free paleo diet helped his various autoimmune diseases. Control function.
Vermont Baker Violation.
The $35 million bridging loans will eventually become equity before Series B funding expires for some time in 2022, said Carp, a former hedge fund manager. But we know that we need a lot of capital right now. “The new funding will not only enable acquisitions but will also allow HumanCo to expand its existing CPG portfolio further and seek new potential acquisitions.
Humana owns three other brands: Snow Days, launched by HumanCo, selling healthy gluten pizza bites. Free, while HumanCo acquired Monty’s, which makes vegan cream cheese and butter. And Coconut Bliss, which makes vegan ice cream from coconut milk.
Bridge’s funding circle attracts well-known investors from sports, entertainment, and business. In addition to actress Scarlett Johansson (now Creative Director at Snow Days). And Serie A co-founder Brian Shet, these include Joe Lonsdale of 8VC; JAZZ Business Partners; Doctor and writer Mark Hyman; Indra Nui, former CEO of PepsiCo; Kurt Seidensiker, founder of Vital Proteins. Nick Green, founder of Emerging Markets; Walter Robb, former CEO of Whole Foods.