DALLAS — Hail Merry, L.L.C., a maker of refrigerated snacks and desserts for the natural channel, has received a minority investment from Dallas-based HBC Investments and Los Angeles-based Powerplant Ventures, led by Mark Rampolla, who founded ZICO Coconut Water, and Kevin Boylan, who co-founded Veggie Grill. Financial terms of the agreement were not disclosed.
With distribution in Whole Foods Market, Natural Grocers, Vitamin Cottage and Costco, Hail Merry products are certified gluten-free, Non-GMO Project Verified, vegan and kosher. The company manufactures macaroons, coconut oil ganache tarts and granolas with premium and organic ingredients.
With the investment, both companies will become partners with Hail Merry, enabling the brand to further expand its marketing, sales support and distribution.
“We are grateful and excited for this investment from HBC Investments and Powerplant,” said Susan O’Brien, founder of Hail Merry. “Their funding and partnership will allow us to grow our conscious enterprise and expand the number of health savvy consumers who will find Hail Merry snacks in their local stores.”
Powerplant Ventures is the first venture fund to focus on plant-centric businesses seeking to offer sustainable and ethical nutrition.
HBC Investments is a private equity investment firm that targets companies in leadership market positions with high barriers to entry.
“Consumers continue to become more interested in food sourcing and pure ingredients, and Hail Merry meets the needs of millennials and mainstream alike,” said Peter Brodsky, a principal of HBC Investments. “We see the growth potential for the brand and are pleased to join Hail Merry to achieve an expanded vision.”
Evale Holdings and Bedrock Holdings will remain majority investors in Hail Merry, as will its principals, Ms. O’Brien; Sarah Palisi Chapin, chief executive officer; and Alison Brushaber, chief product officer.“Investment capital from two well-respected equity partners and Mark and Kevin’s experience ramping their own brands contribute a deep understanding of the consumer product industry,” Ms. Chapin said. “This infusion of capital will enable us to rapidly scale our growth and focus our distribution channels.”