New York, NY—Hippeas has raised $50 million from The Craftory Limited, according to a press release. The financing consisted of direct investment and secondary purchases of shares from existing Hippeas shareholders, including CAVU Venture Partners.
Elio Leoni Sceti, Co-Founder & Chief Crafter at The Craftory, stated in the press release: “I am delighted to add Hippeas to the Craftory’s great portfolio of cause driven brands. If ever a category has been left behind by the zeitgeist it’s this one. The consumer agenda in snacking has fundamentally changed and Hippeas stands out as a clear leader. Hippeas offers zero compromise of flavor and texture, no need to change consumer habits nor expectations, while also being healthier and more sustainable than the more traditional alternatives—that’s a great proposition and a proven recipe for success. We are happy to welcome Livio and the Hippeas team to the Craftory family. We look forward to amplifying this bold CPG challenger as they positively disrupt the status quo. Eat good, do good, what could be more Craftory than that?”
Hippeas intends to use the funds to boost innovation, production, distribution, and the brand’s positive impact, the press release states. Part of that positive impact is built-in: Chickpea plants, which serve as the base for all Hippeas products, naturally release nitrogen back into the soil. On a company level, Hippeas supports Feeding America food banks across the country through food donations and by aiding in disaster relief efforts.
The company also announced that Greg Buscher has joined as CFO, with 25 years of C-suite leadership experience. César Melo, who has held senior leadership roles at Colgate-Palmolive, Mondelez, and PepsiCO, and currently focuses on investing in and advising early-stage companies, has joined Hippeas’ board of directors.
“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,” said Livio Bisterzo, Hippeas Founder and CEO, in the press release. “The pandemic has been very difficult for many brands; Hippeas has been fortunate to have seen strong growth and we are delighted to have partnered with The Craftory as we head into 2021.”
Jonathan Miller, Craft Partner at the Craftory, added: ” Hippeas are that rarest of things—a healthier snack which actually tastes good. Really good. Too often, the healthy option which you know is better for you just leaves you feeling ‘I’d rather not have anything’—but Hippeas snacks are delicious. And not only better for you – they’re also better for the planet. We’re excited to be partnering with the business, to help bring their better breed of snacks to more people, on more occasions, around the world.”