Quinn gathers $10 million in Series B capital.
Boulder, Colorado. NewRoad Capital Partners led a $10 million Series B fundraising round for Quinn, a company that makes gluten-free pretzels and microwave popcorn. In the round, Boulder Food Group, Echo Capital, and Sunil Thakor made further investments.
With the money, the company wants to promote sustainability projects focused on regenerative agriculture as well as growth and product innovation. The board of directors will welcome Michele Meyer, who was previously president of General Mills, Inc.’s Small Planet Foods operating segment and an operating partner at NewRoad Capital.
“Authenticity and a flair for innovation are essential for successful brands,” Ms. Meyer stated. “Quinn has demonstrated both to an exceptional extent. We support Quinn’s goal of giving customers greater transparency, superior ingredients, and a more appealing flavour profile than its rivals. Quinn is significantly altering the snacking landscape, and we are thrilled to support them as they embark on their next phase of development.
Quinn was founded in 2010 and advocates for ingredient transparency from “farm to bag” for its snacks, which are available in over 10,000 retail locations across the country. The company doubled its distribution at Whole Foods Market, Kroger, Wegmans, and Walmart shops last year. Partnerships with online retailers Thrive Market, Hungryroot, and Imperfect Foods contributed to the company’s further growth. The business Since 2019, has had a 60% increase in revenue annually.
Quinn founder and CEO Kristy Lewis stated, “I have spent the last ten years trying to change the food industry by educating consumers about the origins of their food, assisting our agricultural partners, and creating healthier snack options for consumers and their families.” We want to have a positive influence in the snack aisle, and NewRoad fully gets that. Being part of an organisation that genuinely believes in our goal to be and achieve better makes us very happy.
Quinn completed a Series D funding round last autumn, raising $3 million from its board of directors and current investors in addition to a confidential minority investment from The Hershey Co. Leading financial analyst Steve Voskuil executive of The Hershey Co., stated that Quinn adhered to the company’s values of diversity, openness, and sustainable business practices.