Sunrise Strategic Partners, a Boulder, CO-based accelerator of emerging brands co-founded by Steve Hughes and Trilantic North America, today announced a minority investment in Pure Growth Organic, producer and marketer of a portfolio of affordable organic snacks. This is the sixth investment by Sunrise since it launched in 2016.
Pure Growth was founded in 2015 by Chris Clarke and Sabrina Peterson to democratize organic snacks and create products with no additives, chemicals or artificial ingredients. The company currently produces chips, popcorn, pretzels, snack mix, animal crackers, breakfast biscuits, breakfast bars, and oatmeal.
"We started Pure Growth to create organic, better-for-you snacks at an affordable price point. Kids and their moms love the iconic characters on our packaging which make our brand recognizable on shelf," said Pure Growth Co-Founder Chris Clarke. "With Sunrise's investment we are well positioned to take Pure Growth to the next level and expand the brand into additional channels and product offerings."
"By leveraging recognizable children's movie and television characters that appeal to kids and their parents, Pure Growth is able to compete with less nutritious, legacy products that have additives, chemicals, and artificial ingredients," added Pure Growth Co-Founder and CEO Sabrina Peterson. "As a mother, this is particularly important to me, and I look forward to partnering with Sunrise to further expand Pure Growth's distribution and product portfolio."
According to the Organic Trade Association, U.S. organic food sales reached $39.7 billion in 2015 (of which organic snacks accounted for $2.3 billion), and parents in the 18- to 34-year-old age range are now the biggest group of organic buyers in America. Moreover, in April 2016, IRI predicted that total U.S. snack sales would grow $35 billion in the next 5 years.
"Millennials continue to choose organic snack alternatives over existing legacy offerings. Yet there are limited better-for-you snack products for 2-12 year olds, leaving millennial moms with a major vacuum to deal with once their children graduate from organic baby food. As an early mover in affordable organic snacks, Pure Growth is well positioned to participate in continued growth in this market," said Sunrise Strategic Partner Co-Founder and CEO Steve Hughes. "I love Chris and Sabrina's innovation to partner with Mickey Mouse and other beloved children's characters to bring affordable organic snacks mainstream. Sunrise is excited to team up with them to bring Pure Growth products to more kids."
The investment from Sunrise will allow Pure Growth to enter additional retailers and the grocery channel, develop supply chain management and expand the sales and marketing team. This marks the sixth investment for Sunrise, a brand accelerator that provides growth capital and expertise to early stage health and wellness brands to support their development, add strategic value and share guidance on tactical priorities.