Country Archer Jerky has received $10 million in funding from private equity firm Monogram Capital Mirrors, as the company aims to expand production of its natural jerky products.
Country Archer claims that the funding will be used to upgrade its 30,000 square-foot manufacturing plant in San Bernardino, California, more than doubling the production capacity of the site.
The decision to pursue further investment was made after the company experienced a record year of sales growth in 2018, as demand for premium meat snack products rose amongst US consumers.
Eugene Kang, CEO & co-founder at Country Archer Jerky Co said: “What we do at Country Archer is so much more than selling and marketing beef jerky; we are helping to keep the craft of artisan jerky alive by slow cooking our meats in small batches every single day.
“Having our own dedicated facility and in-house team are critical components to our success as it enables us to capture better gross margins and increase efficiency while of course controlling the quality of every ingredient and the final product.
“We’re beyond thankful for our partners at Monogram who’ve believed in our mission to change the way people think about meat snacks and are excited about how this new round of funding will enable us to scale quickly and increase production capacity wise.”
Jared Stein, founder & partner at Monogram Capital Partners added: “While the jerky aisle has become increasingly crowded, a clear separation has emerged in terms of those brands that are driving outsized velocities relative to peers through elevated quality and repeat customer loyalty – and no one is doing this better than Country Archer.
“This is our third investment in the brand and we strongly believe this will help Country Archer further separate from the pack and bring to market some exciting new innovation that is already well underway.
“The ability to double production capacity in-house is a game changer for Country Archer, who is seeing accelerated velocities consistently across all of its major retailer partners.”
© FoodBev Media Ltd 2021
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