Blue Moose of Boulder, founded in 1997, a leading craft provider of natural hummus and refrigerated spreads, under the Blue Moose of Boulder and Ciolo brands, has sold a majority of its business assets to a consumer-focused investor group. The investor group intends to accelerate the company's sales by supporting the award-winning products, broadening the brand awareness and extending its distribution.
The investor group will be led by Ed Shirley, the former CEO of Bacardi and vice chairman of Procter & Gamble. Shirley, who will serve as chairman of the new Blue Moose of Boulder LLC, is excited about Blue Moose's point of difference with its high-quality ingredients and award-winning craft portfolio. "Consumers increasingly are trending toward natural snacking options, and we believe that Blue Moose of Boulder's authentic, hand-crafted and high-quality ingredients will continue to resonate in the marketplace. I look forward to helping the Company achieve its accelerated growth plans," Shirley said.
Joining Shirley as lead investors in the new company are Dan Fink and Fred Howard. Fink has extensive private equity experience (including at J.W. Childs Associates and Centerview Capital) building and revitalizing some highly recognized brands in the consumer industry. He most recently worked with Mr. Shirley at Bacardi in a global vice president of finance/business & strategic planning role. Fink will serve as chief moose and support the ongoing company transformation and critical strategic initiatives.
Fred Howard, a consumer packaged goods executive worked for 20+ years in leadership roles at Gillette and Procter & Gamble, will serve as chief executive officer in the new Blue Moose of Boulder LLC. Most recently, Howard was CEO of Metagenics, a leading nutraceuticals company. "We are excited about the growth prospects of this Boulder-based brand with a rich history of natural and hand-crafted products dating back to 1997. I look forward to working with our team members and valued customers to advance our award-winning products," added Howard.
"We are proud of what we have achieved at Blue Moose with our team and our customer partners," said Bert Sartori, current general manager of Blue Moose. "We look forward to supporting this experienced consumer focused investor group and accelerating our plans."
The transaction closed in early October. Terms of the transaction were not disclosed.