Private equity investor Main Post Partners has taken a minority stage in US-based better-for-you pretzel maker Stellar Snacks.
Main Post described the transaction as a “strategic minority growth investment” but did not disclose financial terms.
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In a statement this week, the San Francisco-based firm said the move will grow Stellar Snacks’ “distribution footprint, production capacity, and innovation”.
The funds will also support “enhanced” brand marketing efforts as well as investments in “innovation” and “operations to meet growing demand”.
Just Food has contacted Stellar Snacks for further details on its distribution expansion plans and intended use of the funds.
Elisabeth Galvin, co-founder and CEO of Stellar Snacks, said: “Main Post brings deep experience partnering with founder-led CPG brands, and this partnership means the world to us. The investment will allow us to scale with purpose while staying true to the values that have defined Stellar from the very beginning: quality, creativity, and greatness.”
Stellar Snacks was founded in 2019 by mother-and-daughter Elisabeth and Gina Galvin.
The company’s pretzel braids come in various flavours such as Bold & Herby, Maui Monk, Sweet & Sparky, and French Dijon.
The brand is stocked at retailers including Costco, Target, Sprouts, Kroger, Albertsons, Safeway. It also supplies products to Southwest and Alaska Airlines.
Ben Yang, vice president at Main Post, said: “Stellar has cultivated a distinctive, flavour-forward brand with clear consumer pull and strong retail momentum. We’re excited to partner with Elisabeth and Gina at this inflection point to help scale distribution, expand capacity, and accelerate innovation.”
Main Post’s other investments include the Texas-based pet food company Nulo.
In October 2023, Stellar Snacks announced plans to invest $137m in a new manufacturing facility in West Louisville, Kentucky. The company had then said the investment is expected to create 350 new jobs at the site over the next ten years.
