Sonoma Creamery LLC has announced a $10 million equity investment by Svoboda Capital Fund IV LP.
"We are excited to have a new partner who shares our belief in making addictively healthy cheese snacks from the highest quality, simplest ingredients," said John Crean, Sonoma Creamery's president and CEO. "Teamwork is our secret weapon. We believe deeply in delivering the absolute best, most compelling, most innovative products to our consumers and retailer partners. We are enthusiastic that the team at Svoboda share our objectives as the surest way to build long-term value for our shareholders, partners and employees."
Specific terms of the transaction were not disclosed.
The funds will support Sonoma’s growth initiatives, including developing new products, hiring of key personnel and adding production capacity.
"We have been impressed with Sonoma's ability to innovate and grow in the exciting Healthy Snack category," said Jeff Piper, managing director at Svoboda Capital. "We are looking forward to collaborating with the Sonoma management team to enhance the long-term growth and success of the Company."
Founded in 1931, Sonoma Creamery is a Sonoma, California-based manufacturer and marketer of premium cheeses and cheese snacks. In 2014, Sonoma launched Mr. Cheese O's, a shelf-stable, high-protein, gluten-free, naturally lactose-free, baked cheese snack made with organic quinoa and no artificial ingredients or preservatives. In 2016, it launched Sonoma Creamery Parmesan Crisps, Cheddar Crisps and Bacon Cheddar Crisps, with real bacon and no added nitrates or nitrites.