Trendy Austin brand gobbles up million-dollar investment
Another local brand has hit the big time: Rhythm Superfoods just snagged $3 million in investment funds, a big chunk of which comes from General Mills.
As the name implies, the Austin-based snack company focuses on nutrient-packed treats that are both healthy and delicious. Popular products include kale chips; roasted kale; and superfood chips in flavors like barbecue, ranch, nacho, and bacon.
Rhythm Superfoods can be found in several major grocery store chains across the nation, but the brand is looking to expand even further, thanks to the new investment money. On the horizon are new products, employees, and facilities.
"The majority of the funds will go to supporting the launch of new items (broccoli bites, roasted kale, beet chips) and new product development. Additionally, Rhythm Superfoods will use funds to build out their sales and marketing team," CEO Scott Jensen said. The company also plans to build two new manufacturing facilities to meet production demand.
The money and resources to expand come courtesy of CircleUp Growth Fund and General Mills' investment arm, 301 Inc. "We're thrilled to help them scale their vision and amplify their existing efforts with an investment of not only capital, but the tremendous resources that General Mills can offer," said John Haugen, vice president and general manager of 301 Inc, in a press release.
It seems that General Mills has an eye trained on Austin. Just last week the food giant announced that it had acquired Austin's Epic Provisions.