The significant capital increase will accelerate the Company’s continued growth with retailers across the country in the fast-growing fresh meals category
VENTURA, California., July 20, 2022 /PRNewswire/ — FreshRealma leading provider of fresh meals to retailers across the country, announced today that the company has closed a 200 million dollars Raising capital led by a leading global institutional cornerstone investor. This latest increase will accelerate the company’s growth strategy in the food industry. FreshRealm is the only fresh meal provider to provide a national platform that simplifies how fresh ready-to-cook, ready-to-heat and low-prep meal kits are brought to the table. The investment capital will allow it FreshRealm to continue to drive the future of 30 billion dollars1 Market opportunities with trading partners.
The sizeable increase, which comes at a time of record inflation and economic uncertainty, reinforces the capital market’s belief in continued demand for convenient and fresh meals. Today’s consumers continue to be time-conscious and seek quality meal solutions, while retailers with cost-effective meal solutions compete for more stomach share, especially as consumers spend less on eating out. This investment confirms FreshRealmPosition as a leading innovator in the fresh food industry.
“We’ve partnered with retailers representing approximately 10,000 retail locations across the country and over a million DTC consumers in the last year to build the most advanced fresh meals platform in the country,” he said FreshRealm Founder and CEO, Michael Lippold. “As the fresh food retail category continues to show compelling growth, this funding will make that possible FreshRealm to strengthen our existing end-to-end platform that supports upscale private label and branded meal assortments and fresh meal destinations.”
As consumers eat more meals at home and seek more convenient solutions to bring meals to the table,2 FreshRealm will use these at the latest 200 million dollars Raised to help the organization drive unprecedented growth through key investment areas including:
- Increase national presence through expanded facilities: Expanded the company’s state-of-the-art facilities across the country to meet growing retailer demand for fresh meals and increased capacity to deliver over 400 million meals to consumers across the country.
- Promotion of accessibility through channel expansion: Expansion of production to offer new and in-demand fresh meal offerings in additional retail channels, including convenience and club stores.
- Growing meal innovation pipeline: Leveraging the culinary team’s expertise and proprietary consumer data to provide even more sophistication and adaptability in developing food innovation for retail customers and consumers.
- Increasing operational efficiency: Striving for continuous improvement of the company’s equipment, plant technology and production capacity in order to maximize and optimize efficiency within the company FreshRealm‘s proprietary horizontally integrated operating model.
- Strengthen supply chain security: Expanding and consolidating the national network of ingredients with key current and new strategic partners to ensure supply chain security, building on the company’s already industry-leading level of service.
- Investment in first class system technology: Innovation to deliver new technology solutions to drive the transformation needed to consistently manage the scale and complexity of dishes and ingredients across many customers and channels.
This latest capital increase comes just one year after the company was founded behaved 32 million dollars to support his leadership in the category. The organization has advanced facilitiesreinforced its strong leadership team of category experts, introduced a new product branddeveloped a robust pipeline of fresh meals and new product innovations and established reinforced distribution channels in a challenging market and volatile supply chain environment.
BTIG, LLC served as sole placement agent for FreshRealm in connection with the offer. Fredrikson & Byron, PA acted as legal counsel.
FreshRealma leading retail fresh meal solutions provider, partners with retailers to create fresh meal destinations that offer vibrant and practical solutions to consumers’ busy and healthier lifestyles.
With the belief that we all Connect through meals, FreshRealmThe team of culinary experts curates a range of inspired dishes using the very best ingredients so consumers can enjoy delicious, fresh meals with little to no effort. The company offers an end-to-end retail solution for Fresh Meals: from product design, sourcing, commercialization, manufacturing, logistics to marketing and merchandising.
RF|Binder on behalf of FreshRealm
2FMI, Power of Foodservice at Retail 2021
SOURCE FreshRealm, LLC