Daniel Lubetzky, the founder of US better-for you snack brand Kind, has invested in Quevos, a local crisps business using egg whites as a main ingredient.
The deal, done through Lubetzky’s family office Equilibra, was announced on US TV business investment show Shark Tank on which he is a panellist. Lubetzky has invested US$200,000 and contributed another $200,000 as a line of credit for a 10% stake in the business.
Lubetzky will partner with Quevos founders Nick Hamburger and Zack Schreier to help promote and market the crisp brand’s introductory line of high-protein, high-fibre, low-carb snacks in flavours including honey mustard and sweet barbecue.
Hamburger and Schreier will hope to use Lubetzky’s experience growing Kind from a small start-up into a multi-billion-dollar brand. In November, Kind was taken into the full ownership of confectionery giant Mars, which was an existing investor.
Lubetzky said: “I am excited to help Nick and Zack fulfill Quevos’ potential. They have created a very cool and differentiated product with huge mainstream appeal and I love that they’ve been best friends and partner entrepreneurs since childhood.”
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A type 1 diabetic, Schreier conceived of the idea for Quevos after tasting the crispy leftovers of an egg white omelette and discovering they could crunch just like the crisps he was unable to enjoy.
In a joint statement the Quevos founders said: "Daniel is a partner and mentor who has been in our shoes building a health and wellness brand from the ground up through every stage of growth.
"We went into the Tank dreaming of making a deal with him, and can't believe we did. We're so excited to learn from him and to collaborate on helping more people enjoy Quevos."