HIPPEAS raises $50m: 'We have grown from a disruptive start-up to a true challenger brand'

By Elaine Watson contact

- Last updated on GMT

Picture credit: HIPPEAS
Picture credit: HIPPEAS

Related tags: HIPPEAS, Snacks

Chickpea-fueled snack brand HIPPEAS has raised $50m from investment house The Craftory Limited in a financing round consisting of direct investment and secondary purchases of shares from existing shareholders including CAVU Venture Partners.

The cash injection will help boost innovation, expand production, and increase distribution for the organic snacks brand, which debuted on both sides of the Atlantic in summer 2016, and has since secured shelf space at tens of thousands of retail locations from Starbucks and Whole Foods Market, to Kroger, CVS, Target, and Costco, attracting investment from Leonardo DiCaprio, among others.

HIPPEAS​ – which launched with extruded chickpea puffs - moved into new territory in 2019 with chickpea-based tortilla chips​, and has been “fortunate to have seen strong growth​” in 2020 despite the pandemic, said founder Livio Bisterzo.

“HIPPEAS has grown from a disruptive start-up to a true challenger brand in very competitive snack categories with innovative products, delicious flavors and nutritional offerings that consumers want – the brand has the potential to become a household name with its loyal millennial fanbase.”

 Jonathan Miller, craft partner at The Craftory, added: “HIPPEAS are that rarest of things – a healthier snack which actually tastes good… really good.”

HIPPEAS also announced that Greg Buscher – who has held CFO roles at Essentia, Skinny Dipped Almonds, Herbivore Botanicals and more - has joined as chief financial officer. César Melo – who has held senior leadership roles at Colgate-Palmolive, Mondelez, and PepsiCo - has joined the board of directors.    

Related topics: Manufacturers

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