Mooala, an organic, dairy-free beverages & creamers’ manufacturer from Dallas, announced the completion of a Series A funding round worth $8.3 Million headed by Sweat Equities, an investment firm from Texas. In this round, diverse other investment companies and family offices, such as M3 Ventures, which headed the firm’s seed round, showed their participation. Mooala stated that the latest funding round awarded it over $13 Million. These funds will be used by the firm to speeding up the product development, and strengthening its in-house team, and spreading out into the latest markets.
Recently, the company rolled out completely organic dairy-free creamers. The products of this firm can be purchased from over 2,500 national retailers, such as Wegmans, Whole Foods Market, Albertsons, ShopRite, Giant, Safeway, and Kroger. Mooala’s CEO and Founder Jeff Richards recently stated that the company is planning to invest the recent funds to spread out and open over 3,500 stores nationally in January 2020. The firm has progressed and achieved to own about 9 SKUs in the last 2 Years. Richards stated that his company will invest the latest money in backing additional stores. At present, only 5 staff members are working in the firm on a full-time basis. The firm aims to add more employees using the latest support along with the addition of an e-commerce section. Although the firm has no specific plans at the moment, it might decide to hire a finance lead and chief operating officer in the upcoming period.
On a similar note, Brown Gibbons Lang & Company (BGL) announced that Calbee, a Japanese snack food maker, is purchasing Warnock Food Products, a company providing innovative and creative snacks. In this transaction, the Food & Beverage team—with guidance from Dan Gomez—of BGL played a key role of the exclusive financial advisor to Warnock. The firm did not reveal the terms of the latest deal.
Having a Master’s Degree in Brewing Technology and overall experience of 6 years in the field of writing, Jerri has been one of the most workaholic and dedicated team members of thefoodbeveragenews.com portal. She has been a part of this portal for 4 years now. Jerri started a career in writing with freelancing and the journey has been worth watching and appraising. She handles the Beverage Industry domain of the portal and along with her team provides all the vital and up-to-the-minute news and reports to the readers in a simple and comprehensible manner.