New York — Hippeas, a maker of organic chickpea snacks, raised $50 million from San Francisco-based investment house The Craftory Ltd.
The financing consisted of direct investment and secondary purchases of shares from existing Hippeas shareholders, including CAVU Venture Partners. Funds will be used to expand production, increase distribution and boost innovation, the company said.
Those efforts will be guided by Greg Buscher, newly appointed chief financial officer at Hippeas. He brings 25 years of c-suite leadership experience and a background in manufacturing and distribution to the company. Prior to joining Hippeas, Mr. Buscher was CFO at Skinny Dipped Almonds, Essentia Water and Nuerobrands LLC.
“Hippeas has grown from a disruptive startup to a true challenger brand in very competitive snack categories with innovative products, delicious flavors and nutritional offerings that consumers want,” said Livio Bisterzo, founder and chief executive officer of Hippeas. “The pandemic has been very difficult for many brands; Hippeas has been fortunate to have seen strong growth and we are delighted to have partnered with The Craftory as we head into 2021.”