In addition to SternAegis, which led a $5m funding round for Outstanding Brands last year, other investors include: Kenneth Harris, former chairman of the board of Enjoy Life Foods, and Javier Valéz-Bautista, former CEO of Mission Foods and current CEO of El Dorado Foods.
Outstanding Foods will use the $10m in capital to accelerate its retail footprint and build out its research & development team in order to introduce "new outstanding market-ready plant-based products," said the company.
Last year, Outstanding Foods products were sold in roughly 1,000 stores and the brand was experiencing "explosive growth" in both DTC and retail channels, said Outstanding Foods co-founder Bill Glaser. This year, the company is expanding its brick-and-mortar retail footprint with added distribution at Walmart, Kroger, and southwest 7/11 locations.
Adding to its plant-based snack portfolio of PigOut Pigless Pork Rinds (made from rice, pea protein, and pea grits), the company has introduced PigOut Pigless Bacon Seasoning and TakeOut Meal-In-A-Bag Puffs. The new puffs product line features four chef-crafted flavors (Pizza Partay, White Chedda, Chill Ranch, and Hella Hot) developed by co-founder and chef Dave Anderson and contain 21g of protein as well as 30% of the daily value of iron, calcium, vitamins B12, B6, D, E per 3-ounce bag.
“This Series A financing will enable us to accelerate our mission of making it easier for anyone to eat healthier plant-based foods. Look for more Outstanding Foods tasty innovative products to come,” said Glaser.