D.E. Shaw completes investment in Snikiddy, L.L.C.
March 06, 2008
by Eric Schroeder
BOULDER, COLO. — D.E. Shaw Group, a global investment manager firm, announced its has committed up to $15 million of equity capital for Snikiddy, L.L.C., manufacturer of Snikiddy Snacks, an organic snack brand for children.
"We are excited about our investment in Snikiddy," said Bryan Martin, a managing director of D.E. Shaw & Co., L.P. and co-head of the D.E. Shaw Group’s U.S. growth and buyout private equity unit. "We see tremendous potential in the company, as consumers are increasingly looking for healthier food options for their families."
Mr. Martin added that the capital investment positions Snikiddy for strong growth.
"We look forward to working closely with management as it develops the Snikiddy brand and product lines," he said.
According to Snikiddy, the investment will allow the company to accelerate national expansion and establish itself as a market leader in the rapidly expanding organic and healthy children’s snacks category. As part of the transaction, Mr. Martin and Justin Chan of the D.E. Shaw group will join Snikiddy’s board of managers.
"We are thrilled to have financial support from the D.E. Shaw Group and their management expertise on our board," said Colin Sankey, chief executive officer of Snikiddy. "The significance of this relationship allows us to focus on providing great products for our consumers and retailers. We couldn’t ask for a better partner to support Snikiddy Snacks and are well poised to build an exciting and strong brand."
Founded in 2006, Snikiddy L.L.C. produces organic cheese puffs and cookies available in a variety of flavors. The products are sold in natural and conventional grocery stores across the country, as well as on-line.