Sunrise Strategic Partners, the US investment vehicle set up by former Boulder Brands CEO Steve Hughes, has taken a minority stake in Utah-based Kodiak Cakes.
Sunrise said its investment will enable Kodiak to accelerate growth by increasing distribution to new channels, supporting innovation and expanding Kodiak’s team.
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The investment is the fourth made by Sunrise since it launched earlier this year.
Kodiak, is a producer of premium products including high-protein, non-GMO pancake and waffle mixes, flapjacks, muffin cups and syrups.
CEO and co-founder of Kodiak Joel Clark said the firm has been a family-run business for more than 20 years. “We feel well positioned to capitalise on increasing consumer demand for high-protein meals, and feel that Sunrise’s deep strategic experience in scaling businesses will be crucial in this next phase of growth for the brand.”
Sunrise CEO and co-founder Hughes said: “Kodiak Cakes is an award winning and unique product that delivers protein to categories that are struggling to appeal to millennial consumers. The high-protein benefit resonates strongly with the younger consumers that these categories are working to attract.”
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By GlobalData
