MINNEAPOLIS -- Live Better Brands, maker of the Way Better Snacks brand of natural tortilla chips and crackers, has announced a minority growth-equity investment from Alliance Consumer Growth (ACG), a consumer-focused private-equity firm.
The ACG investment will enable Way Better to accelerate nationwide product distribution, expand new-product development and continue generating consumer awareness and adoption.
Founded in 2011 by consumer product entrepreneur and industry veteran Jim Breen, Way Better Snacks makes better-for-you tortilla chips and crackers. All Way Better Snacks products feature non-genetically-modified organism (GMO) ingredients that are high in nutrients and made with sprouted whole grains.
Other notable companies that ACG has successfully partnered with include Krave Jerky (subsequently acquired by The Hershey Co.), EVOL Foods (subsequently acquired by Boulder Brands) and restaurant-industry darling Shake Shack.
“We are very excited to partner with ACG to take our business to the next level. We believe ACG's expertise, particularly in targeting health-minded consumers who demand more out of their snack foods, will be very valuable as we look to accelerate our growth and further develop our brand,” said Jim Breen, founder and CEO of Way Better Snacks.
“Way Better is a true leader and innovator in the premium natural snacks category. We are thrilled to work with Jim and his outstanding team to help grow the brand,” said Trevor Nelson, managing partner at ACG. “Way Better is exactly the type of next-generation, high-growth brand that we look to partner with.”
Julian Steinberg, managing partner at ACG, added, “Way Better has the rare opportunity to create the best tasting snacks while also being the healthiest. We believe this combination will be game-changing for consumers nationwide, and we can't wait to partner with Jim Breen and his colleagues at Way Better to build on their success.”
Adding further to the momentum at Way Better Snacks, the company recently hired Barney Acselrod as the executive vice president of sales. Acselrod has extensive experience working with high-growth consumer brands having prior leadership sales positions with Snapple, Vitamin Water, PopChips and Bai Brands before joining Way Better Snacks.
ACG is a private-equity fund which provides growth capital and value-added partnership to promising emerging consumer, retail and restaurant brands. Current investments include Babyganics, The Honest Kitchen, Kriser’s Natural Pet, Shake Shack, Suja Juice, barkTHINS, PDQ Restaurants and Way Better Snacks. Prior investments include Krave, EVOL Foods and Plum Organics (acquired by Campbell Soup Co.).
Minneapolis-based Live Better Brands produces natural snacks under the Way Better Snacks brand.
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