SEMCAP buys out ALOHA's early angel investors, accelerates distribution with $68m fundraise

By Deniz Ataman

- Last updated on GMT

Source: ALOHA
Source: ALOHA

Related tags Aloha Investment

A $68m investment in plant-based snack company ALOHA by growth equity firm SEMCAP Food & Nutrition buys out early angel investors and will “help ALOHA’s able-bodied management accelerate its distribution and growth in traditional retail channels,” Brad Charron, CEO, ALOHA, told FoodNavigator-USA.

With SEMCAP’s investment, ALOHA plans to expand its retail distribution into more accounts, including Whole Foods, Thrive Market, Vitacost, Harris Teeter, Natural Grocers, Fresh Thyme and Wegmans.

“With a disciplined multi-year strategy, the brand and product offerings will continue to be available to a broader array of consumers across channels and purchase occasions,” Charron added.

Head_shot_-_Brad_Charron-optimized (1)
Source: ALOHA

Charron noted that the investment will expand the company’s board of directors in partnership with SEMCAP’s operating advisors.

SEMCAP will provide a variety of networks and expertise to accelerate the company’s growth, including the firm’s food and nutrition team, food and nutrition advisory board and the founders and management team, including peer B-Corp brands like Good Culture and Purely Elizabeth.

SEMCAP’s food and nutrition team, led by food category professionals, will help ALOHA scale with support from its advisory board made up of industry executives across the food system.

“The SEMCAP food and nutrition team is led by experienced food category veterans John Haugen, Ryan Newcom and Kate Storey, with offices in Canada and the US. John and Ryan, in particular, have immensely valuable experiences scaling brands through their past leadership in General Mills’ investment arm, 301 Inc.,” Charron explained.

He continued, “In addition, the SEMCAP food and nutrition team has convened a seasoned advisory board, composed of proven industry executives across all major functions in food. This group provides additional support and counsel to SEMCAP food and nutrition and its portfolio companies.”

SEMCAP, ALOHA management to be 'truly symbiotic'

SEMCAP was founded and led by Buck Buckley and Cyrus Vandrevala, who Charron described as “proven entrepreneurs and have spent more than three decades operationalizing their investment knowledge and growth strategies to consistently drive accelerated growth and outsized returns for investors.”

ALOHA employees and management will retain a majority stake in the company, “maintaining the company’s status as an independent operated entity,” according to the company. Charron added that the partnership “will be truly symbiotic.”

He elaborated on ALOHA’s growth between 2020-2023, citing a topline revenue growth of nearly 500% “while achieving strong EBITDA profitability.”

He added, “The company is poised to achieve and maintain high double-digit growth throughout 2024 and is very well positioned to continue on its sustainable upward trajectory for years to come.”

ALOHA currently does not have any plans for additional capital raises “as the operating philosophy and model does not rely upon additional cash outside of what the business generates on its own today,” Charron emphasized.


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