The plant-based snacks brand of California plans a retail expansion on a global scale
Outstanding Foods, the maker of plant-based snacks PigOut Pigless Pork Rinds and TakeOut Meal-In-A-Bag Puffs, said it has raised $10 million in a Series A financing led by SternAegis Ventures. Last June, the company closed a $5 million round also led by SternAegis. The round saw LA Lakers JaVale McGee join the company as an investor.
SternAegis Ventures is the private equity fund and venture capital division of Aegis Capital Corp.
The challenger brand reported that Kenneth Harris, former chairman of the board of Enjoy Life Foods, and Javier Valéz-Bautista, former chief executive of Mission Foods and current chief of El Dorado Foods, have now invested in the company.
With the cash injection, Outstanding will endeavour to expand its retail footprint and direct-to-consumer marketing efforts.
Outstanding will also use this financing to bolster its research and development team led by co-founder chef Dave Anderson. The plan is to accelerate the development of new outstanding market-ready plant-based products.
Retail expansion to a global scale
The company plans for a rapid retail expansion nationally and globally.
“We’ve experienced explosive growth in 2020 in both our direct-to-consumer and retailer channels,” said Bill Glaser, chief executive and co-founder of Outstanding Foods. “Feedback on our addictively delicious and nutritious products has been outstandingly positive.”
Glaser said this Series A financing will enable the company to accelerate its mission of making it easier for anyone to eat healthier plant-based foods.
Cassel Shapiro, partner at SternAegis Ventures, said the company is committed to supporting the Outstanding Foods team in its mission to develop a plant-based snack products global brand. “Outstanding Foods is led by passionate serial entrepreneurs seeking to push the boundaries of what’s possible with plant-based ingredients.”
Outstanding Foods products are currently sold in retailers nationwide, including Walmart, Kroger, Whole Foods and southwest 7-11 locations.
Date published: 8 January 2021