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| 14/05/2009 |
Jack's Harvest balances interest in growth
capital against desire for control, cofounder says; has heard informal
approaches
mergermarket |
| Story |
Jack's Harvest, a maker of organic baby
food based in Atlanta, Georgia, could be interested in growth capital
in the future, although its founders worry about losing control over
the business, said Connie Pope, a company cofounder in charge of sales
and marketing. The company also has seen approaches from potential
investors or buyers for the business, in the form of informal
expressions of interest, she said.
The company remains small, Pope said, without revealing precise
revenue, but is quickly growing. It is on pace to triple its sales for
2009, compared with 2008, largely due to increased distribution. The
business's frozen organic baby food is now sold in Whole Foods Markets
throughout the southeast as well as a handful of local, boutique food
shops, for a total of 24 retail outlets. The products can also be
ordered online on Amazon.com.
Pope and the company's president, Heather Schoenrock, have ambitions to
continue expanding distribution, both in the southeast and nationwide
this year and next, and to expand the product line. The partners
periodically discuss the idea of seeking outside investment to help
fund the growth, Pope said, but want to be careful to retain control
over the quality of their products. Although the company is aware of
interest from potential investors and acquirers, Pope said the partners
have not seriously explored those options yet. Schoenrock and her
husband, Peter, who oversees the company's finances, own the business,
with Pope also holding a stake.
The idea for the business grew out of Schoenrock making her own baby
food for her children and sharing it with Pope, a personal friend. The
company is named after Schoenrock's youngest son, Jack.
Previous reports by this news service indicate the organic baby food
market remains a niche space. National competitors include New
York-based Plum Organics and Nurture. Nurture has been reported to have
revenues of about USD 5m. by Chris Marr
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| Source |
mergermarket |
| Value |
USD 5m
(approximate revenue of national competitor)
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| Stake Value |
N/A |
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| Sectors |
Consumer: Foods
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| SubSectors |
Baby food
Food-others
Frozen and chilled foods
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| Intel Type |
Companies for sale
Private equity related
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| Countries |
USA
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| Intel. Grade | Confirmed
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| Intelligence ID | 806319
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