Pasta Co. Raises $2.35 Million

Putney Pasta, a Brattleboro, Vt.-based natural pasta maker, has raised $2.35 million in VC funding. The Sea Change Investment Fund led the round, and was joined by return backers CEI Community Ventures Fund and The CDVCA Central Fund. 

PRESS RELEASE

The Sea Change Investment Fund, LLC, a venture capital fund focused on environmentally-preferable seafood, in conjunction with existing company investors CEI Community Ventures Fund and The CDVCA Central Fund, today announces a $2.35 million investment in Vermont-based The Natural Pasta Company d/b/a/ Putney Pasta.

“We are thrilled to have the opportunity to invest in Putney Pasta as the company prepares to celebrate its 25th anniversary and nationally launch a new line of all-natural Shrimp and Chicken Skillet Meals this fall,” commented Jason Winship, Managing Principal of Sea Change. “Sea Change invests in companies that combine strong growth prospects with sound seafood sourcing policies. Putney Pasta has both of these ingredients in great measure, and we're particularly excited to begin expanding the sustainable seafood movement beyond the fish counter.”

Putney Pasta's much-anticipated Skillet Meal line will include all-natural, sustainably-sourced seafood, free of artificial ingredients and preservatives such as sulphites and sodium tripolyphosphate. Funds from Sea Change will support an aggressive launch for the new line and accelerate retail distribution for Putney Pasta's entire product portfolio.

Mr. Winship added, “We have confidence that the new Skillet Meals will be an enormous success, rewarding sustainable fisheries and the brand's loyal consumers alike.”

Putney Pasta products are currently available at natural and conventional retail chains nationwide. In May 2006, the Putney Pasta brand was acquired by The Natural Pasta Co., formed by natural product investors, CEI Community Ventures.

“We are excited to have Sea Change join with Putney Pasta; this exciting partnership will add to the continued growth of the Putney Pasta brand,” noted Michael Burgmaier, Principal of CEI Community Ventures, Inc.

The Sea Change Investment Fund is a double-bottom line venture capital fund focused on stimulating the market for sustainable seafood. Through its investments, Sea Change intends to generate conservation benefits to improve the health of fisheries and the marine environment, in addition to financial returns for its investors. Launched in March 2005, the Fund is capitalized with a $10 million program-related loan from the David and Lucile Packard Foundation, matched by a $10 million private equity investment. For more information, please visit www.seachangefund.com.

Since 1983, Putney Pasta has been making all-natural, premium frozen pasta and all-natural pasta-based meal solutions with fresh ingredients and bold, adventurous flavors. Putney Pasta's frozen products are not only easy and convenient for consumers on the run, but rich in quality ingredients so home cooks can feel good about what they serve. With its bold packaging and premium products, Putney Pasta is a true food industry original with personality to spare. Please visit www.putneypasta.com for more information. Putney Pasta