Undercover Snacks receives equity investment

Undercover Snacks receives equity investment

EAST HANOVER, NJ. — Better-for-you snacks manufacturer Undercover Snacks said it has raised $13.7 million of equity for a minority stake in the company. Led by Octagon Capital Holdings, 900 Chocolate Investors and the company’s founders, funds will be used for marketing initiatives to support the company’s growing retail footprint, including collaborations with major retailers, campaigns to bolster upcoming product launches, expansion of the company’s SQF-8.1 production facility in Hanover, including additional production lines and automation, and investments in building the company’s management team.

“We are incredibly excited to have the support of strong and savvy investment partners along with the resources to build Undercover into a preeminent, global, better-for-you snack brand,” said Diana Levy, founder, co-owner and chief executive officer of Undercover Snacks. “With this equity investment, we will expand our production facilities and invest in our product development, marketing and sale strategies in order to continue to bring innovative and crave-worthy snacks with favorable nutritional characteristics to the market.”

Michael Levy, chairman of Undercover Snacks and managing member of Octagon Capital Holdings, said the company will use the investment to expand its marketing programs in collaboration with major retailers to continue building trial, awareness, momentum and long-term customer loyalty.

Launched by Ms. Levy in 2017, Undercover Snacks offers Chocolate Quinoa Crisps, which comprise crispy quinoa lightly covered in premium milk or dark chocolate. Most recently, Undercover announced that it had doubled its distribution in June 2021 to more than 10,000 retail locations across North America, plus additional retailers in an expanding number of countries abroad. In addition to building its offline and online retail presence, the company said it is focused on growing significantly in alternative channels, including corporate offices, airlines, entertainment venues, foodservice sectors, and other places people consume snacks.

The snacks are certified gluten-free, peanut/tree nut-free, non-GMO, Rainforest Alliance certified, OU kosher certified, and halal certified.