Quinn Meals, launched by Kristy Lewis over a decade in the past to reinvent conventional savory and indulgent snacks with better-for-you substances and sustainable farming, has raised $10 million in a current collection B spherical led by development fairness agency, NewRoad Capital Companions.
Michele Meyer, working accomplice at NewRoad Capital Companions and former president of Basic Mills’ snacks division Small Planet Meals, will probably be becoming a member of Quinn Meals’ board of administrators because of the capital increase.
This spherical, which additionally features a follow-on funding from Boulder Meals Group, Echo Capital, and Sunil Thakor, coupled with a earlier financing spherical by chocolate big Hershey, is anticipated to carry Quinn’s whole funding to greater than $13 million to-date, based on Crunchbase.
“Profitable manufacturers require authenticity and a penchant for innovation. Quinn has exhibited each to the best diploma,” Meyer mentioned in an announcement. “We imagine in Quinn’s mission to supply higher transparency to their prospects, higher substances of their merchandise, and a greater style profile than its competitors.”
Ben Fenton, accomplice at Boulder Meals Group, additionally added: “We’re extraordinarily excited to welcome NewRoad and their group into the Quinn household to help this very thrilling subsequent part of development for the enterprise. Kristy and Quinn have been at the vanguard of this motion in direction of transparency, traceability and sustainability whereas delivering on exceptionally tasty and progressive merchandise inside snacking.”
Lewis notes how her firm’s mission has all the time been utilizing the “highest actual substances backed with a dedication to supporting agriculture and meals transparency” since its inception, and its portfolio of farm-to-table microwave popcorn, pretzels, and pop-at-home kernels has helped Quinn turn into a salty snacks chief in over 1,000 U.S. retailers throughout the pure, mass, and traditional grocery channels along with e-commerce.
Notably, the corporate has skilled a 60% year-over-year enhance in income since 2019 with gross sales from its pretzels line alone rising by 120.8% year-over-year throughout all brick-and-mortar shops, and 287.7% significantly in Walmart.
Lewis mentioned she plans to make use of the newly raised development capital to proceed constructing out Quinn Meals’ group, bolster its grassroots advertising and marketing technique, develop new merchandise, broaden its direct-to-consumer channel, and most significantly, lean into their “Be Higher Do Higher” mission — an initiative designed to “meet growers the place they’re and supply alternatives for them to combine regenerative practices into their farming.”
“After 10 years, we’re nonetheless very a lot devoted to altering meals and agriculture for the higher,” Lewis instructed me, stressing how 99% of present agriculture is farmed conventionally with solely a fraction being regeneratively farmed.
Regenerative agriculture, a course of that goals to reverse local weather change by conserving soil and diversifying cropping rotations, has turn into an business buzzword lately, with an rising variety of meals and beverage founders adopting the apply for his or her manufacturers.
“How can we transfer that 99% in the proper course and incentivize growers to simply make a begin?” Lewis requested. “Our mission is to work with farmers who’ve a need to take the primary steps in direction of doing issues for the higher and rising from there.”