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Yes to Carrots Raises $14 Million

Yes To Inc., an Israel-based maker of personal care products, has raised $14 million in Series A funding. San Francisco Equity Partners led the round, and was joined by Simon Equity Partners.

 

PRESS RELEASE

Yes To Inc., an Israel-based consumer products company that created and owns the Yes To Carrots TM  line of natural personal-care products, announced today it has closed a $14-million Series A funding round led by San Francisco Equity Partners. Simon Equity Partners also participated in the round.

 

With sales more than doubling since its U.S. debut last year, Yes To Carrots has become one of the fastest growing brands in the explosive worldwide natural personal-care market, which occupies a rapidly growing segment of the $267 billion global beauty-care market.  Yes to Carrots' award-winning line of products currently are sold by leading drugstores, mass retailers and prestige department stores in 17 countries across North America, Europe and Asia.  Yes to Carrots has been featured on ABC-TV's popular morning show “The View” as well as numerous successful appearances on the Home Shopping Network.

 

“Yes To is an emerging leader in the natural, personal-care sector as evidenced by the exponential growth of its first product line,” said Scott Potter, managing partner of San Francisco Equity Partners. “The company has a unique brand with multiple attributes that resonate with consumers, including natural paraben-free formulations, high efficacy, and a fun brand personality. We believe that Yes To represents a significant opportunity and we are very pleased to support their strategic expansion and branding efforts.” 

 

Yes To executives said the new capital will be used to accelerate North American distribution of Yes To Carrots products, which debuted in overseas markets in 2006, and have been sold primarily by Walgreens in the United States since May 2007. The funding will also support the rollout of additional products and brands, including Yes To Cucumbers and Yes To Tomatoes, which the company will launch to consumers worldwide later this year.  Yes To is expanding its retail distribution in the U.S. to other major retailers over the coming months.

 

“While we were fortunate to have several options in choosing a financial partner to help fuel our growth, San Francisco Equity Partners and Simon Equity Partners were the obvious choice,” said Ido Leffler, CEO of Yes To Inc. “Both firms have outstanding track records in funding and providing strategic support for high-growth natural and organic brands. We are thrilled to add both firms to the Yes To team as we capitalize on the explosive worldwide demand for our brand.”  

 

San Francisco Equity Partners and Simon Equity Partners are experienced investors in the natural consumer products sector. The firms are co-investors in MethodTM Products, having worked together to help build one of the world's pre-eminent natural home-care brands.

 

“Yes To has the right vision and market strategy to establish brand leadership across many product lines in the natural personal-care market worldwide,” said Steve Simon, managing partner of Simon Equity Partners. “While Israel has attracted tremendous interest and investment for its intellectual capital in technology-related ventures, this is an example of exciting opportunities outside the technology sector and we are thrilled to partner with an Israeli company that we believe is a world-class innovator in the consumer products sector.”

 

Yes To's initial line of products, Yes To Carrots is a complete family of paraben-free skin and hair care products that combine the anti-oxidant power of beta carotene from organic fruits and vegetables from the “orange color” produce groups, with the cleansing, purifying and moisturizing properties of 26 minerals harvested from Israel's Dead Sea.

 

Studies show that organic produce contains 40 percent more antioxidant value than conventionally grown produce. Committed to promoting organic food production globally, Yes To started the Yes To Carrots Seed Fund, a philanthropic organization dedicated to help developing communities cultivate self-sustaining, organic food sources. 

 

Yes To Inc. was represented by William Blair & Company and Poalim Capital Markets on this transaction, while San Francisco Equity Partners and Simon Equity Partners were advised by Demeter Group.

 

About Yes To Inc.:

Yes To Inc. created and owns the Yes To CarrotsTM line of natural personal-care products. Available at mass market retailers nationwide, Yes To Carrots' hair, face and body products combine a unique blend of antioxidant-rich beta-carotene, with nourishing and rejuvenating Dead Sea mud and minerals. The entire line is made with organically sourced orange fruits and vegetables (including carrots!) in paraben-free formulations.  Yes To Inc. is headquartered in Tel Aviv, Israel, and sells its products in more than 17 countries. A portion of all proceeds from its Yes To Carrots product line is dedicated to the Yes To Carrots Seed Fund, a non-profit organization created to assist communities in need develop self-sustaining, organic food sources.

 

For more information, please visit www.yestocarrots.com.

 

About San Francisco Equity Partners:

San Francisco Equity Partners is a private equity firm focused on expansion-stage companies within the consumer, information technology, and service industries, and has a proven track record of working with late stage growth companies. The firm was founded in partnership with LMS Capital, offering its portfolio companies access to a global network of industry contacts and deep financial resources. For more information please visit www.sfequitypartners.com.

 

About Simon Equity Partners:

Simon Equity Partners (“Simon Equity”) is the private investment arm of the Simon family, founders of Simon Property Group (NYSE: SPG), the largest publicly-traded real estate company in the United States. Based in San Francisco, Simon Equity specializes in non-control $2 million to $15 million equity investments in dynamic consumer and retail lifestyle brands. Simon Equity works closely with entrepreneurs who are passionate about helping evolve the consumer experience by leveraging the Simon family's retail, foodservice, hospitality and real estate expertise.