Mini Melts, a US-based ice cream company, has secured investment from Altamont Capital Partners, a private-equity firm headquartered in California.
Details regarding the financial aspects were not revealed.
The beaded ice-cream business, operating in Connecticut, employs a distinctive “proprietary cryogenic freezing process” for manufacturing and delivers its products through a network of more than 20 distribution centers. Altamont mentioned in a statement that Mini Melts anticipates launching “multiple new distribution centers in 2024 and plans to further enhance its fully integrated, white-glove distribution model.”
Based in Philadelphia and established in 2004, Mini Melts distributes 30 million pre-packaged ice-cream cups annually through a network of over 15,000 locations, as stated by Altamont.
“We believe the beaded ice-cream category has expandable growth potential,” Altamont principal Kabir Mundkur said in a statement.
“We are excited to invest in the brand and bring Mini Melts into more consumers’ hands while fostering new and exciting innovation in the future.”
Dan Kilcoyne, the founder and CEO of Mini Melts, will continue to lead the company and remains a significant investor in the business, along with other shareholders.
“Our partnership with Altamont will bolster our growth plans, allowing us to spread into new markets and grow with new customers,” said Kilcoyne.
“We have experienced exponential growth over the past several years and are focused on reaching across the entire country and innovating for our valued customers. We are excited to leverage Altamont’s experience scaling family-owned businesses and in multi-unit operations, food manufacturing, and distribution to support our next phase of growth.”
Mini Melts joins Altamont’s portfolio, alongside companies like Juice Plus and Tall Tree Foods.
“The fully integrated white glove distribution model is a real difference maker. It enables an entirely seamless experience for the company’s channel partners, and a better quality product for consumers,” said Altamont managing director Kevin Mason.
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