US snack firm Betty Lou’s has secured investment from CNBC host and entrepreneur Marcus Lemonis.
Betty Lou’s manufactures and co-packs health bars and crackers. It supplies food ingredients and offers gluten-free products.
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The investment, announced on 31 December, did not disclose financial terms but in a statement Lemonis said: “My number one goal is to build on this amazing company by growing the Betty Lou’s branded products and continuing to be the leader in co-packing for other great brands nationwide.”
Betty Lou’s was set up in 1978 by Betty Lou Carrier. She said the investment would help the business “take the company’s development to the next level”. She added: “We will now be better equipped to give our customers a faster turn-around through receiving assistance with elements such as regulation, marketing, package designs and most importantly sales.”
Lemonis, the host of the CNBC reality series The Profit, has invested in a series of consumer goods businesses in recent months.
In August, Lemonis Fischer Acquisition Co., a joint venture owned by Lemonis and investment firm Fischer Enterprises, acquired New York-based cupcake retail chain Crumbs Bake Shop. As part of the venture’s plans to revitalise Crumbs, the business test-launched a series of cookie and chocolate products in mass grocery and convenience stores in September.
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