San Francisco, California-based Swander was joined in the “strategic partnership” by Branch Brook Holdings in New Jersey, an investment group formed in 2012 by the private-equity business and peer Jefferson Capital Partners in Virginia and United Natural Foods, a distributor of organic food products in North America.
No other details of the strategic arrangement were revealed.
Mighty Spark was founded in 2018 by Nick Beste in an effort to address the needs of underfed children and is a regular community donor. The business manufactures chicken and turkey patties and mince, along with chicken snack sticks sold into US retailers. Based in Minneapolis, Minnesota, the company says its products are all-natural proteins free of nitrates and nitrites, and sourced from cage-free birds.
A new CEO has also been announced in the form of Sean Reid to replace Beste, who will now focus on meal donations and community projects. Reid is a former executive of US meat-snacks specialist Jack Link’s, and Hillshire Brands, which is now under the ownership of meat giant Tyson Foods.
“I am excited to welcome my new partners and a new CEO to our company to leverage their experiences with other high-growth, innovative food brands and those businesses that positively impact their communities,” Beste said in a statement.
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By GlobalDataMighty Spark is chaired by Rob DesMarais, a managing director at Swander, who noted the company “has incredible growth potential”.
Incoming CEO Reid added: “I am excited to lead a talented and ambitious organisation that is winning with its consumers and retailer partners. Going forward, we will work hard to continue to innovate with better-for-you proteins as we respond to emerging consumer trends while staying true to our give-back commitment.”
