Private equity investorRevelry Brands, Boulder, Colo., said it acquired a minority stake in theIcelandic Milk & Skyr Corporation, New York, N.Y. New York state dairy farmers supply the five-year-old business, which makes Icelandic-style yogurt, or "skyr," under the siggi’s brand.
Officials said new capital will help expand siggi's premium product offering, operations, and sales team.
"Siggi's is a great example of a differentiated, premium natural foods brand that is perfectly positioned to grow in an underdeveloped health and wellness category," said Brendan Synnott, Revelry Brands founder. "Siggi's offers a premium product dedicated to superior taste, traceable sourcing, and all-around product transparency to the consumer. Its high protein and low sugar content coupled with its clean branding and packaging screams health at a time when the average consumer is beginning to realize that some traditional yogurt can come loaded with sugar."
Officials said siggi's is distributed nationwide at Whole Foods Market, Wegmans, and Stop and Shop. They said siggi's has been widely featured by media and was recently voted "America's Healthiest Snack" byHealth magazine and "Best New Dairy Product" byMen's Healthmagazine.
Revelry's investment portfolio includes frozen natural burrito processorPhil's Fresh Foods LLC, also based in Boulder, Colo. The company since has rebranded its line as EVOL Burritos.