Quinn ups its ‘Be Better. Do Better’ ante with $3m cash injection
The Series D financing round was led by the Louisville, Colorado-based company’s entire Board of Directors as well as investors BFG Partners, Echo Capital, John Foraker, Gil Fronzaglia, Sunil Thakor and an investment arm of the Lissette family.
“We are thrilled that our current group of investors continues to share in our vision and excitement about the brand’s momentum,” said Kristy Lewis, founder and CEO of Quinn.
“Each of our partners brings significant expertise to elevate our brand to its next stage of growth.”
Quinn – founded in 2010 with a mission to reimagine classic snacks by using only real ingredients and a commitment to transparency – has experienced a 65% growth in revenue this year over last year, driven by expanded distribution and the recently launched first-to-market Paleo-friendly, grain-free pretzel chip.
The snack producer was also first-to-market with a microwave popcorn in a patented Pure Pop popping bag made of compostable paper free of chemicals, plastic and heat conducting susceptors. It also launched the first pretzels made with sorghum on the market and the first gluten-free peanut butter-filled pretzel nuggets.
Expanded distribution
In the past year, Quinn expanded into Walmart and increased listings with Whole Foods, Kroger and Wegmans, bringing its presence to over 7,000 retail outlets across the US.
It also pushed its presence in the ecommerce channel through partnerships with Thrive Market, HungryRoot and Imperfect Foods.
Quinn recently announced a number of management changes, enlisting Justin’s and One Brands’ Hunt Killough as an independent board member, and naming Boston Beer Company alum Brett Atkinson as COO and former Kellogg’s Snacks and Morning Foods lead Al Matulis as VP of sales. It also added Katherine Siriani as director of sales – Natural; Jeff Nelson as director of sales – Conventional; and Stacey Benham as director of marketing.
“I look forward to applying my passion and experience for growing CPG brands to help Quinn get to the next level,” said Atkinson.
Quinn’s sustainability mission – ‘Be Better. Do Better’ – is committed to seeking out partners that have adopted regenerative agriculture farming practices. For example, in June 2020, a Quinn-based initiative planted 85 acres of sorghum using regenerative ag practices on Tucker Farms in Western Nebraska. The sorghum will be trialled for use in its pretzels. The company’s ‘Farm-to-Bag’ transparency policy enables consumers to know exactly where their snacks come from.
