Sonoma Brands, led by the founder of protein snack brand Krave, has completed the purchase of Chef’s Cut Real Jerky Co. for an undisclosed amount.
Jon Sebastiani first founded Krave in 2009 before selling the brand to Hershey’s in 2015. The following year he formed Sonoma Brands, a growth equity firm which both develops and incubates brands in the food and beverage space, as well as invests in other consumer brands.
The acquisition comes a few months after the firm purchased Krave back from The Hershey Company and means the joining of two jerky brands under the Sonoma Brands umbrella.
Founded in 2009, Chef’s Cut’s current portfolio includes flavoured jerky, meat sticks and biltong. With its recent purchase, Sonoma Brands believes it is well positioned to lead the meat snacks category to new heights.
“Our goal is to reenergise the premium segment of the meat snacks category,” said Kevin Murphy, managing director of Sonoma Brands, who will be leading the combined entity as interim CEO.
He continued: “Through a focus on product quality and innovation supported by impactful marketing and a thoughtful promotional strategy, we are committed to driving incremental growth for our retail partners while delivering a great product and experience to consumers.”
Rusti Porter, chief marketing officer of Krave, added: “We see tremendous opportunity for continued growth in meat snacking and feel fortunate to lead a second wave of the jerky renaissance with both Krave and Chef’s Cut at the helm.
“It is our belief that Chef’s Cut and Krave are complementary brands that engage with different consumers, both the traditional jerky shopper as well as the health and fitness-minded millennial who seeks artisanal flavours and quality ingredients. We are thrilled to grow both brands in tandem here in Sonoma to continue the story we started in 2009 with the launch of Krave.”
© FoodBev Media Ltd 2020
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