LesserEvil, a prominent organic popcorn manufacturer based in the United States, has successfully secured a significant minority investment from private-equity firm Aria Growth Partners as part of their recent funding round.
The specific percentage of the ownership stake transferred to the investor from New York, as well as the total funding amount raised by the health-conscious snack producer, were not disclosed.
LesserEvil, headquartered in Connecticut, announced that additional participants in the funding round included its current investors, namely Valor Equity, Invest Eco, and Touch Capital. The proceeds from this funding will be earmarked for the expansion of manufacturing capabilities and the enhancement of retail distribution channels, as stated by the company, which was founded in 2005.
The popcorn and paleo puff snacks from LesserEvil are available in various US retailers including Target, Walmart, and Whole Foods Market. The company runs two manufacturing facilities located in Connecticut, specifically in New Milford and Danbury.
Additionally, their product lineup includes grain-free organic puffs, as well as snacks like Sun Poppers, Space Balls, Cosmic Rings, and Lil’ Puffs.
LesserEvil asserted that its snack offerings are characterized as “health-conscious, minimally processed, and environmentally sustainable,” although no specific details were provided to substantiate these claims.
CEO Charles Coristine said, “We’re excited to have an experienced new partner like Aria join us as we embark on this next phase of accelerated development and take the LesserEvil brand to new heights.
“Our ability to self-manufacture gives us tremendous upside to continue delivering the innovation and better-for-you snacks that consumers crave.”
Aria Growth partner Trevor Nelson said, “We know how hard it is to build such a high-growth and highly profitable, mainstream food brand. It’s a testament to their ingenuity and discipline that they’ve been able to create a beloved brand and a first-rate business as well.”