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.

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.”

Hughes announced in February that he had established Sunrise to invest in emerging food brands in partnership with private-equity firm Trilantic North America.