Consumer brand accelerator Sunrise Strategic Partners has secured new funding in the “hundreds of millions” from its partner, Trilantic North America.
The funding sees Sunrise expand its partnership with private equity firm Trilantic, as it prepares for its next phase of growth.
Founded in 2016, Sunrise provides capital to food and beverage brands in the healthy, active and sustainable living space. The Colorado-based company’s portfolio includes Cali’flour Foods, Coolhaus ice cream, beverage brand Kill Cliff, Maple Hill Creamery and chocolate brand Little Secrets.
Sunrise has recently completed two exits including its sale of Kodiak Cakes to L Catterton – claiming it drove the baking brand’s revenues from $15 million to over $200 million since its 2016 investment). However, the company remains a minority shareholder in Kodiak Cakes.
“With two successful exits and a portfolio of world-class brands, Sunrise Strategic Partners remains well-positioned to continue identifying and accelerating brands in the better-for-you food and beverage space,” said Jamie Manges, partner at Trilantic North America.
“We look forward to the next phase of our partnership, supporting the next generation of extraordinary founders and scaling their businesses to become category leaders.”
Steve Hughes, co-founder and managing partner of Sunrise Strategic Partners, said: “Our partnership with Trilantic North America has created a new model for value creation for emerging brands in our sector. The capital, and more importantly growth expertise, we provide is empowering brands to disrupt their categories.”
Sunrise has also hired renowned food and beverage executive Peter Burns as a managing partner. He was recently CEO of One Brands, where he led the sale of the company to Hershey in late 2019.
“I’m excited to join Sunrise because we are uniquely positioned to partner with these disruptive brands and provide the tools and expertise needed to capitalise on this shift in the industry,” said Burns.
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