Chaucer Food Group and Simplepitch Ventures Enter Into Agreements To Invest In U.S. Category-Leader Crunchies
The following text was copied verbatim from a press release:
WESTLAKE VILLAGE, CA, OCTOBER 27, 2014 – Chaucer Food Group, the United Kingdom-based producer of premium food ingredients whose clients include Kellogg’s, Heinz, Kraft, Nestle, Unilever and Starbucks, has entered into an agreement to invest in Crunchies, America’s leading freeze-dried fruit and vegetable brand. In related news, Simplepitch Ventures has made a separate investment in the rapidly-growing all-natural snack brand. Both investments are effective immediately.
Chaucer Foods’ new investment reflects the globally-respected company’s commitment to helping Crunchies maintain its category dominance and longstanding dedication to product innovation. At the same time, the new agreement helps Chaucer achieve its goal of expanding in the rapidly growing U.S. freeze-dried market – a burgeoning industry given consumers’ increasing appetite for family-friendly products that are healthy, affordable and convenient.
Signaling Chaucer’s desire to enhance but not alter the unique blend of management expertise and product appeal that has made Crunchies such a winning natural snack brand for nearly a decade, James Lacey will remain on board as President and CEO of Crunchies – a position he’s held since 2006, leading the company through its most significant period of expansion.
The award-winning Crunchies brand has experienced double-digit growth within the last year alone, and successfully taps into the ever-broadening universe of health-conscious consumers seeking nutritiously delicious alternatives to fattening, low-nutrition snacks for themselves and their children. Crunchies’ leadership position in U.S. sales of freeze-dried snacks was affirmed by Nielsen as recently as May 2014.
Beyond evolving into a must-have snack among consumers nationwide, Crunchies has established strong supplier and distributor relationships over the years, all of which will continue to be nurtured and expanded as a direct result of Chaucer’s and Simplepitch Ventures’ added resources. Today, Crunchies is sold throughout North America at retailers including Walmart, Costco and Whole Foods, a range that clearly showcases the brand’s crossover appeal among mainstream and health food shoppers alike.
Commented Andy Ducker, CEO of Chaucer Foods, “We’re delighted to announce our strategic investment in Crunchies, which illustrates Chaucer’s wider corporate strategy to become a truly global, market-leading specialist food ingredient and consumer products producer.
“We’re confident that with our operational expertise and investment, the already successful Crunchies brand will develop to its full potential in the U.S. and maximize its opportunities in the growing freeze-dried markets. In addition, the combination of the Crunchies and Chaucer companies will provide Chaucer with increased visibility and exposure to customers and suppliers in the North American market.”
Added James Lacey, “Chaucer as a global leader in its field and Simplepitch Ventures have the resources to enable us to deliver the highest quality products to our loyal retail customers and consumers, along with the capacity to meet the growing needs of our valued distribution partners. Most importantly, Chaucer and Simplepitch Ventures share my longstanding commitment to product quality and innovation, which will ensure that Crunchies stays true to its natural snacking origins while at the same time being able to expand as more and more consumers gravitate toward a healthy eating lifestyle.”