Veggie Noodle Co., a US supplier of spiralised noodles, has sold a minority stake in its business to private-equity firm Encore Consumer Capital.
Set up in Texas in 2015, Veggie Noodle Co. sells its products at US retailers including Whole Foods Market, Kroger and Target. It has secured distribution across 35 states.
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Scott Sellers, the managing director at Encore Consumer Capital, said he had “great confidence” Veggie Noodle founder Mason Arnold and management would “further enhance their national presence as an innovative leader in the industry”.
Veggie Noodle is set to move into a new facility in east Austin. The switch to the new site will see production capacity increase by “over five times”, the company said.
In April, San Francisco-based Encore Consumer Capital sold US snacks business Thanasi Foods, the owner of Duke meat snacks, to Conagra Brands.
The private-equity is at present investing out of its US$260m third fund. It targets companies with between $10m and $100m in annual revenues.
