Dive Brief:
- Sir Kensington's, a better-for-you brand of natural condiments, has received an $8.5 million investment from Verlinvest, a family-owned private equity group that is playing a major role in the investments and stake ownership of new U.S. food companies.
- Sir Kensington's manufactures ketchup, mayonnaise, and mustard products that are Non-GMO Project verified and made with simple ingredients, including crushed ripe tomatoes, organic white vinegar, and Chablis wine. Natural grocery stores, such as Whole Foods Market, and several hotels and restaurants already carry the products.
- "We knew we needed a certain amount of money from an investor, but we also wanted someone that had more than capital," Mark Ramadan, co-founder and chief executive of Sir Kensington’s told The New York Times. "Verlinvest has deep experience not just in the food and beverage space but also in natural and organic brands and smaller businesses."
Dive Insight:
The key factor here might be Verlinvest and its track record, which includes Popchips, Vitaminwater, and Vita Coco. Sir Kensington's is positioning itself to make a splash in the natural foods arena, while Heinz and French's retool. The condiments, which cater to the "good for you food" market, are already very popular in its stores, says Whole Foods.
The Verlinvest funds are slated to be used for wider distribution, product development, and a new marketing team. In addition, the company recently added the marketing expertise of Chris Burggraeve, former global chief marketing officer of Anheuser-Busch InBev, who is one of Sir Kensington's individual investors, alongside Verlinvest, and now joins the condiment company's board of directors.