LesserEvil Raises Additional Capital to Continue Growth and Expansion
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Category disruptor makes healthy snacking mainstream and profitable
DANBURY, Conn., September 21, 2023-- LesserEvil LLC., makers of organic popcorn and salty snacks, announced today that it received a significant minority growth investment from Aria Growth Partners, a leading consumer-focused private equity firm. The round was a combination of primary and secondary investment. Participation in the investment included existing investors Valor Equity, Invest Eco, and Touch Capital. The investment will enable LesserEvil to fuel continued growth, expand its manufacturing operations, and open additional retail distribution.
Since its founding in 2005, LesserEvil has built a cult-following based on its unique combination of craveable snacks made from organic and better-for-you ingredients available at mainstream prices, underpinning its mantra of “mindful snacking.” Over the last two years, LesserEvil has experienced break-out growth and has driven a disproportionate amount of the volume growth of the popcorn category across mainstream channels. With this growth investment, LesserEvil is poised for significant scale and accelerated consumer adoption all while continuing their mission of making healthy, less-processed, and sustainable snacks more accessible to everyone.
“Charles Coristine and Andrew Strife are truly outstanding entrepreneurs,” said Trevor Nelson, a partner at Aria Growth. “We know how hard it is to build such a high-growth and highly profitable, mainstream food brand. It’s a testament to their ingenuity and discipline that they’ve been able to create a beloved brand and a first-rate business as well. We are thrilled to partner with them and their outstanding team.”
"We’re excited to have an experienced new partner like Aria join us as we embark on this next phase of accelerated development and take the LesserEvil brand to new heights,” said Charles Coristine, CEO of LesserEvil.
Having originally built a significant business in the natural grocery channel, LesserEvil has had explosive growth and consumer adoption over the past two years as it has expanded distribution into mass market and conventional grocery retailers. LesserEvil is currently sold in leading retailers such as Target, Walmart, Whole Foods Market, Safeway Albertson’s, and many others.
LesserEvil manufactures all of its products at its facilities in Danbury and New Milford, Connecticut. Part of the investment proceeds will help expand its production facilities to keep pace with its growth.
“2024 is the year of the multipack and we are making big investments in our production capabilities (with our 2nd factory now up and running) to ensure we can get on-the-go packs in the hands of all of our consumers. Our ability to self-manufacture gives us tremendous upside to continue delivering the innovation and better-for-you snacks that consumers crave,” added Coristine.
About LesserEvil: LesserEvil Healthy Brands, LLC transforms snack time into mindful moments by creating tasty, on-trend snacks and other light bites from the simplest, most sustainable and functional ingredients available. Recognized in 2020 as Whole Foods Market’s National Award Recipient for Raising the Bar for Quality, the Danbury, Connecticut-based company produces a premium portfolio of better-for-you options including Organic Popcorn, Grain-Free Organic Puffs, Sun Poppers, Space Balls, Cosmic Rings, Lil’ Puffs and Grain-Free Egg White Curls. LesserEvil products are available through natural foods, conventional and specialty retailers nationwide. Visit www.lesserevil.com to shop or learn more.
About Aria Growth Partners: Based in New York City, Aria Growth Partners is a leading consumer private equity firm that provides growth capital and elevated partnership to extraordinary consumer brands. Aria invests across the consumer sector and is currently a partner to The INKEY List and Onda Tequila Seltzer. Aria was previously the investment partner to Hero Cosmetics, subsequently acquired by Church & Dwight. www.ariagrowth.com.
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