EMBEKE, BELGIUM – Lotus Bakeries Group, through its corporate venture fund FF2032, has taken a minority stake in The Good Crisp Co., Inc., Boulder, Colo. Terms of the investment were not disclosed. Lotus Bakeries said its investment was part of a larger Series A financing round.
The Good Crisp Co. is a manufacturer and marketer of potato chips and cheese balls. The products are marketed as better for you and clean label.
“As part of the Lotus Bakeries Group, FF2032 brings generations of experience in growing and commercializing amazing tasting snacks,” said Matthew Parry, chief executive officer of The Good Crisp Co. “Especially in light of all the opportunities that we are already seeing in 2022, such as growth opportunities with new retailers and increasing rotations, I am convinced that we will benefit greatly from this partnership.”
The Good Crisp Co. was founded in 2015 and today has more than 13,000 points of distribution, according to the company. Retailers that carry the company’s products include Kroger, Walmart, Wegmans and Whole Foods.
Isabelle Maes, CEO of natural foods for Lotus Bakeries, will join The Good Crisp Co.’s board of directors.
“The Good Crisp Co. positions itself as a better-for-you chips brand in a very sizeable market of savory canister snacks and has already shown strong performance with compelling evidence for future potential,” Ms. Maes said. “There is a great team in place that I look forward to working with.”
This is the third investment FF2032 has made in 2021. In May, the venture fund invested in Oot, an Amsterdam-based direct-to-consumer manufacturer of gluten-free and organic granolas. In January, FF2032 was a part of a $4.8 million Series A investment round in Partake Foods, a processor of gluten-free cookies and baking mixes that are free from the eight major allergens.