Financing Round Reflects Momentum in Natural Food Movement
NEW YORK, Aug. 14, 2015 /PRNewswire/ — Sir Kensington’s, the leading all-natural condiment company, announced the completion of a $8.5 million Series A equity financing round today. In five years, Sir Kensington’s has become the fastest growing condiment brand in Whole Foods and is the ketchup of choice for hundreds of restaurants and hotels nationwide, including the Ritz Carlton, Bareburger, PJ Clarke’s, and The Spotted Pig.
All of Sir Kensington’s ketchup, mayonnaise, and mustard products are Non-GMO Project Verified and are made with simple, whole ingredients. Funds will be used to accelerate distribution growth in the North American natural grocery and foodservice channels, expand product offerings, and make key hires.
Led by Verlinvest, the investment demonstrates the continued commitment of Verlinvest to early stage growth capital investments in emerging consumer businesses. Verlinvest’s previous investments in the US include innovative consumer product brands, including category pioneers vitaminwater, Vita Coco, popchips, Hint, and Sambazon.
“We’re excited to support Sir Kensington’s growth ambitions in the US and internationally,” said Verlinvest’s Chairman, Frederic de Mevius. “We look forward to furthering this brand’s reach as the leading premium condiment company.”
Alongside Verlinvest, private investors in the round include individuals with entrepreneurial experience in consumer products, restaurant hospitality, and consumer marketing. These investors include Mike Kirban, founder of Vita Coco; David Barber, co-owner of Blue Hill and Blue Hill at Stone Barns; the co-founders of Sweetgreen through SWTLF Ventures; Andrew Essex, founder of Droga5; and Chris Burggraeve, former Global CMO of AB InBev. Mr. Burggraeve will also join the company’s Board to provide strategic marketing guidance to the growing brand.
“With Verlinvest’s investment, we’re looking forward to continue bringing choice to the condiment market.” said Mark Ramadan andScott Norton, Co-Founders of Sir Kensington’s.
“Through this partnership, we’ll be able to take what we’ve done at a small scale and bring it to more people than ever.”
ABOUT SIR KENSINGTON’S
Sir Kensington’s is the premier producer of all-natural condiments served and sold nationwide. Launched by Scott Norton and Mark Ramadan in 2010, Sir Kensington’s now offers award- winning lines of ketchup, mayonnaise, and mustard. Sir Kensington’s strives to create products recognized as both healthy and uncompromisingly delicious. Their condiments are widely distributed in natural grocery stores such as Whole Foods, as well as acclaimed restaurants and hotels in major urban markets.
Verlinvest is a private, consumer-focused investment holding company. Its shareholders are part of the Belgian stable shareholder families of AB InBev. Active since 1995 with a global approach (offices in Brussels, New York and Singapore), Verlinvest aims at diversifying family holdings through private and public investments in fast-growing branded consumer product and service companies. Verlinvest acts as a long-term partner helping talented management teams to drive growth across channels and geographies, primarily in the food and beverage, retail / e-commerce, hospitality, and digital marketing sectors. Verlinvest currently has over €1bn of net assets.
SOURCES: Sir Kensington’s & PRNewswire