LITTLETON, Colo. and WAYNE, Pa., March 26, 2024 (GLOBE NEWSWIRE) -- ALOHA, an award-winning B Corp and Climate Neutral Certified plant-based protein brand, proudly announces that SEMCAP Food & Nutrition, a growth equity investment firm focused on identifying and helping build the purpose-driven food and nutrition brands of the future, has invested $68 million of secondary capital to buy out early angel investors and take a significant minority stake in the company. ALOHA will join SEMCAP's prestigious portfolio of consumer-first, mission-driven brands that are growing the right way. ALOHA employees and management will retain a significant stake in the company, maintaining the company’s status as an independently operated entity.
Through this strategic partnership, ALOHA will add SEMCAP's operating experience and network to bolster its business’s continuous growth. ALOHA remains focused on scaling its current success via acceleration of traditional retail channels and the continued enhancement of an already impressive digital presence, solidifying its leadership in the growing plant-based protein market. Between 2020 and 2023, ALOHA achieved nearly 500% growth while achieving significant profitability and positive cash flow. The company is poised to maintain high double-digit topline growth throughout the course of this year and beyond.
As part of this event, Brad Charron, ALOHA’s “Re-Founder” since late 2017, will retain his role as Chairman and CEO, ensuring seamless continuity and leadership as ALOHA advances along its growth trajectory. In addition to adding SEMCAP’s John Haugen and Ryan Newcom to the Board of Directors, ALOHA is pleased to welcome Paul Kenny, a seasoned sales executive with more than 30 years of experience, known for delivering remarkable commercial growth most notably at KIND Snacks and Yasso. Along with the steadfast backing of ALOHA’s existing independent Board Members, Bart Adlam and Maura Mottolese, and ALOHA’s largest angel investor, Alexander Rittweger, ALOHA will have an experienced governance team to manage the next stage of the Company’s trajectory.
"SEMCAP Food & Nutrition is an ideal partner. Their recognition and buy-in to what we have built thus far at ALOHA comes at a key inflection point," explains Brad Charron, Chairman & CEO of ALOHA. "With an impact-driven investment strategy, exemplified by successful partnerships with like-minded entrepreneurial brands such as Purely Elizabeth and Good Culture, SEMCAP completely aligns with our mission to make simple, nutritious food accessible to everyone, while using our business as a force for good. We look forward to many more multiples of profitable growth with their inclusion."
SEMCAP was founded in 2020 by Buck Buckley and Cyrus Vandrevala to invest in companies at the forefront of seminal trends in sectors that have the greatest impact on humanity – food, health and education. SEMCAP's Food & Nutrition platform is led by Haugen, Newcom, and Kate Storey. The team invests in environmentally sustainable, high-growth businesses with more than $25 million in revenue and category-leading products that have achieved proof of concept and evidence of scale. Haugen and Newcom are seasoned business operators, having run several General Mills brands, large business units, and General Mills’ investment arm, 301 Inc.
“We’re seeing consumers fuel a massive food revolution; this seismic shift presents an incredible opportunity for our Food & Nutrition platform to identify and help scale the food and nutrition brands of the future,” said Newcom. “With a proven track record of remarkable digital growth and tremendous retail expansion opportunities ahead, our team recognized ALOHA’s incredible potential as a perfect addition to our portfolio. We look forward to tapping into the operational expertise within our platform and broader network to help ALOHA’s success in this next phase of execution.”
For more information about ALOHA, please visit Aloha.com. For more information on SEMCAP please visit semcap.com.
About ALOHA
ALOHA is an employee-owned and operated company committed to helping people choose a happier path to a healthier life by making simple, nutritious food available to everyone. Its award-winning plant-based products are high in protein, amazingly low in sugar, and next-level delicious--proving you don't have to sacrifice taste for nutrition. As a certified B Corporation® and Climate Neutral Certified brand, ALOHA is dedicated to using its business as a force for good and taking care of its people, customers, communities, and the planet. ALOHA's products can be found at grocery stores nationwide, including Whole Foods Market, Sprouts, Wegmans, Harris Teeter, HEB, Kroger, Albertsons, Publix, Stop & Shop, Natural Grocers, Central Market, and more. ALOHA can also be purchased online at Thrive Market, Amazon, Walmart.com, Vitacost.com, and ALOHA.com.
About SEMCAP Food & Nutrition
SEMCAP Food & Nutrition invests in remarkable food companies that support sustainable modern health and a better future for food. Led by a highly skilled investment team with deep operating and investing experience in consumer packaged goods, the team provides unique deal insight and support for strategic partnering and enhanced growth. SEMCAP Food & Nutrition partners with companies whose products emphasize organic, natural, non-GMO, and plant-based foods as well as efficient supply chain and delivery and low-waste packaging. SEMCAP Food & Nutrition is one of SEMCAP’s three platforms - health, education, and food. SEMCAP is a growth equity company committed to investing behind seminal trends in these sectors that have the greatest impact on humanity.
Media Contacts:
Lani Free
Greenheart Collective
lani@greenheartcollective.com
Michelle Musburger
SEMCAP
michelle@musburger.com
This release is provided for informational purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. This material may contain estimates and forward-looking statements, which may include forecasts and do not represent a guarantee of future performance. This information is not intended to be complete or exhaustive and no representations or warranties, either express or implied, are made regarding the accuracy or completeness of the information contained herein. The views expressed are as of March 1, 2024 and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves significant risks.
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