DANBURY, CONN. โ Organic popcorn and snacks maker LesserEvil LLC has secured a significant minority growth investment from Aria Growth Partners that the company said will enable it to fuel continued growth, expand its manufacturing operations and open additional retail distribution.
Valor Equity, Invest Eco and Touch Capital participated in the investment round, which was a combination of primary and second investments.
Founded in 2005, LesserEvil said it has experienced โbreak-out growthโ over the past two years in the popcorn category as it has expanded distribution into mass market and conventional grocery retailers, including Target, Walmart, Safeway and Albertsons. With the new investment, the company said it now is poised for โsignificant scale and accelerated consumer adoptionโ while continuing its mission of making healthy, less-processed and sustainable snacks more accessible.
โWeโre excited to have an experienced new partner like Aria join us as we embark on this next phase of accelerated development and take the LesserEvil brand to new heights,โ said Charles Coristine, chief executive officer of LesserEvil.
โCharles Coristine and Andrew Strife are truly outstanding entrepreneurs,โ said Trevor Nelson, a partner at Aria Growth. โWe know how hard it is to build such a high-growth and highly profitable, mainstream food brand. Itโs a testament to their ingenuity and discipline that theyโve been able to create a beloved brand and a first-rate business as well. We are thrilled to partner with them and their outstanding team.โ
LesserEvil manufactures all its products at its facilities in Danbury and New Milford, Conn. Part of the investment proceeds will help expand its production facilities to keep pace with its growth, according to the company.
โ2024 is the year of the multipack, and we are making big investments in our production capabilities (with our second factory now up and running) to ensure we can get on-the-go packs in the hands of all of our consumers,โ Mr. Coristine said. โOur ability to self-manufacture gives us tremendous upside to continue delivering the innovation and better-for-you snacks that consumers crave.โ
In addition to popcorn, LesserEvil makes puffs, curls, sticks and cookies. In April 2022, LesserEvil acquired a majority stake in Portland, Maine-based R.E.D.D. Bar, a manufacturer of plant-based bars and drink powders.
