Greenmont Capital Partners, a venture capital firm focused on the Natural Products industry, today announced it has completed an equity investment in Madhava Honey Ltd., a leading alternative sweetener company. Greenmont’s investment will help the fast-growing company extend its existing offering into new alternative sweetener products while continuing to grow distribution channels to service increased consumer demand.
Founded in 1973 as a honey producer, Madhava has become a recognized innovator in the sweetener category, dedicated to providing healthy alternatives to highly processed, refined sugars and artificial sweeteners. The company is expanding operations from its humble roots in Lyons, Colo., to an additional manufacturing facility in Mead, Colo., in order to keep pace with growing demand.
Industry veteran Hass Hassan will join Madhava as lead director. Mr.
Hassan has known company President Craig Gerbore for over 35 years, their relationship stemming from his role as co-founder, former president and CEO of the Alfalfa’s Market retail chain during the 80s and 90s.
“I fondly remember the days when Craig would pull his infamous pickup truck into the Alfalfa’s parking lot and unload barrels of fresh honey for our store,” said Hassan. “I am thrilled to be working with him and the rest of the Madhava team. They’ve built an incredible company and have a tremendous opportunity in front of them.”
“I am very pleased to announce this investment in Madhava,” said Gerbore. “Greenmont has an excellent reputation in the market and is known for working as a trusted partner with management. I believe their collective experience will be very helpful as we extend our product offerings and continue to expand distribution.
“Candidly, I welcome more expertise around the table,” Gerbore continued, “as the recent growth at Madhava has been unprecedented.
Working specifically with Hass is like a dream come true considering our long history together.”
According to a May 2009 report by the Freedonia Group, Americans alone consumed nearly $12 billion in sweeteners in 2008 and alternative sweeteners are expected to account for 12% of the US sweetener market by 2013.
About Madhava Honey Ltd.
Madhava Honey Ltd. is located in the foothills of Boulder County, Colo. The company has been an active and committed participant in the local honey market for 37 years and counting. Over that time, Madhava has established itself as the premier alternative sweetener company, providing its unique sweeteners internationally through expanding channels of distribution. To learn more, visit www.madhavahoney.com.
About Greenmont Capital Partners
Greenmont Capital Partners is an investment fund founded by Natural Products industry insiders, focusing on early-stage companies in the $500-billion Lifestyles of Health and Sustainability (“LOHAS”) market.
Greenmont’s operations are strategically headquartered in Boulder, Colo., a city widely regarded as the epicenter or "Silicon Valley" of the Natural Products industry, providing optimal flow of information, contacts, resources and investment opportunities in the LOHAS space.
Additional information is available at www.greenmontcapital.com.