Japanese barbecue sauce maker Bachan's, based in Sebastopol, has received an injection of capital that it states will be used for hiring, product development and expansion of its distribution.
The Sebastopol-based compan’s products currently are sold at more than 2,500 retailer locations, including Whole Foods Market, Costco Wholesale, Bristol Farms, Oliver's Market, Giant Food, Central Market and Fresh Thyme stores.
The amount of the investment was not disclosed. However, the investment group, Prelude Growth Partners, said in the announcement Wednesday that it injects $10 million to $40 million in each company it selects, spreading the cash across branded consumer categories, including personal care, beauty, food and beverage, baby, pet, and health and wellness.
"The commitment I made to developing our sauce and our cold-filled manufacturing process in a way that honored my family, and also made it completely unique in the marketplace, is paying off,“ stated Justin Gill, Bachan's founder and CEO. ”The growth we're experiencing in all channels is exhilarating and every day is a new challenge, which I love. People connect to our brand and our story, and they love our products. Our team really couldn't ask for anything better than that."
Gill founded the company in 2013. After six years of perfecting the multigenerational family recipe, the Original Japanese Sauce officially was launched in 2019.
As a reult of the pandemic, Bachan’s is seeing a big increase in demand in our Direct to Consumer business as well as Amazon,“ Gill told the Journal in March. “We are Consumers want their packages sent to them quickly and their customer service inquiries responded to quickly.
“If you want to compete with other brands and even with your own brand on Amazon, you need to ship products out very quickly and respond to (customer service) inquiries quickly. You also need to communicate with your customers and build direct relationships with them.“
Neda Daneshzadeh, co-founder of Prelude Growth Partners, said in the announcement Wednesday that the company "fits squarely into Prelude Growth's investment strategy of partnering with passionate, purpose-driven founders of high-growth consumer brands."
Focused on “high potential, fast-growing consumer brands” the private investment firm stated its investors include Ryan Tedder, Aaron Paul, Benny Blanco, Whitney Port, Max Thieriot, Chase Utley, Abe Burns, as well as former co-CEO of Whole Foods Market, Walter Robb, and tech industry veteran and Latitud co-founder, Brian Requarth.
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October 02, 2021 at 05:34AM
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Japanese barbecue sauce maker Bachan's of Sonoma County raises capital for expansion - North Bay Business Journal
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