Cleveland, Ohio-based Cleveland Kitchen, a culinary brand focused on fermented foods, has raised $19 million in Series A financing led by San Francisco-headquartered venture capital firm Amberstone, with participation from existing investor Clover Vitality.
The funds will be used to accelerate the company’s growth in the fresh-fermented foods category, and to complete its acquisition of pickle manufacturer Sonoma Brinery. Cleveland Kitchen is also courting West Coast-based retailers and customers via a new facility in Santa Rosa, California.
Cleveland Kitchen stated it has achieved 110% revenue growth since 2016 with retail door expansion, same-store velocity increases, and new products. The company expects “robust” growth this year by investing in new operational and manufacturing capabilities, by increasing distribution and household penetration with its fresh kimchi and pickle products, and by releasing a new product line in the autumn. Cleveland Kitchen added it will also quadruple Sonoma Brinery’s current output.
Drew Anderson, Cleveland Kitchen co-founder and chief executive said: “Sonoma Brinery’s capabilities align perfectly with Cleveland Kitchen and help to increase speed to market, by adding West Coast manufacturing support and providing proprietary fermentation science information. The brand also provides a suite of ultra high-quality and delicious fermented products. This acquisition drives our mission of building Cleveland Kitchen as the fermented culinary platform brand, leading product innovation and category growth by producing delicious, fermented, and pickled foods with a halo of health.”
James Graham, a partner at Amberstone, added: “Cleveland Kitchen has totally redefined the fresh fermented food space. Drew and his team have built a platform of branded products that have already demonstrated significant appeal to a broad cross-section of the country, illustrated by their category-leading velocities in a number of the nation’s largest retailers. We’re excited to be part of the journey as they continue to lead product innovation in one of the most interesting categories we’ve seen.”
Date Published: 15 June 2022