Revelry Brands has acquired a minority stake in Siggi’s, a New York-based maker of Icelandic-style thick yogurt. No financial terms were disclosed.
Revelry Brands (Revelry), a Boulder-based investment firm focused on providing growth-stage private equity to unique, innovative businesses in the natural foods and consumer products categories, recently announced that it had acquired a minority stake in Siggi’s, the maker of a premium, Icelandic-style thick yogurt.
Revelry’s investment, which closed on June 11, 2010, will be used to capitalize on the recent upswing in the natural “thick” yogurt category and expand Siggi’s premium product offering, operations, and sales team.
“Siggi’s is a great example of a differentiated, premium natural foods brand that is perfectly positioned to grow in an underdeveloped health and wellness category,” said Brendan Synnott, Founder of Revelry Brands. “Siggi’s offers a premium product dedicated to superior taste, traceable sourcing, and all-around product transparency to the consumer. Its high protein and low sugar content coupled with its clean branding and packaging screams health at a time when the average consumer is beginning to realize that some traditional yogurt can come loaded with sugar.”
Siggi’s makes skyr, a premium, Icelandic-style, thick yogurt that is currently sold nationally in stores such Whole Foods Market, Wegmans, and Stop and Shop. Siggi’s yogurt has been widely featured in the media and was recently voted “America’s Healthiest Snack” by Health Magazine and “Best New Dairy Product” by Men’s Health Magazine.
With innovation and expanded distribution set to drive growth in the near future, Revelry was selected as the preferred partner who could bring both expertise and capital to the relationship. Synnott has spent the majority of his business career as a successful entrepreneur dedicated to guiding lifestyle brands to their growth potential. In 2002, he co-founded the healthy snack company, Bear Naked, and within five years, grew the company to become the market leader in the granola category, both in market share and growth. As a result, Kellogg acquired Bear Naked in 2007.
“We believe Siggi’s is the perfect addition to the Revelry portfolio,” said Megan Reimers, Managing Director of Revelry Brands. “Our portfolio is made up of brands that are truly category growth drivers and category inventors and innovators, and Siggi’s is no exception.”
About Revelry Brands
Revelry Brands is an investment firm focused on providing growth-stage private equity to unique, innovative businesses in the natural foods and consumer products categories. Our companies have management teams with proven track records, innovative offerings, and authentic stories that translate into successful lifestyle brands. Revelry’s commitment to investing hands-on operational expertise alongside our investment capital allows us to work with exceptional people and companies who are truly looking for a partner.
Founded in 2009, Revelry Brands is led by the former co-founder and CEO of Bear Naked and is advised by a seasoned team of financial stalwarts and food industry innovators. Revelry Brands is based in Boulder, CO. Go to www.revelrybrands.com for more information.