Aptos, Calif. (PRWEB) December 10, 2009
Blue Horizon Foods, Inc. (http://www.bluehorizonseafood.com), a leading supplier of healthy and environmentally responsibly sourced branded seafood products, today announced the completion of a growth equity financing led by Greenmont Capital Partners I, LP and Renewal2 Social Investment Fund (US) LP.
In just a few short years, Blue Horizon has established a branded leadership position within frozen, prepared natural and wild seafood offerings as an innovator and a pioneer. The new funding will allow Blue Horizon to execute on the company’s strategic growth initiatives, including product development and the continued expansion of distribution within the natural, conventional and mass grocery channels.
“In staying true to our mission of delivering healthy seafood products that are sourced responsibly, Blue Horizon has addressed a problem area for consumers and quickly built a loyal following,” said John Battendieri, Founder and CEO of Blue Horizon. “In partnering with leading like-minded investors such as Greenmont and Renewal2, we will have the opportunity to broaden our reach and offer more consumers a unique, sustainable alternative. In addition to capital, our investors bring strength in operations, distribution and strategy, giving us depth and leverage that few early stage companies can claim.”
“Blue Horizon is the leader in a market that we feel will only grow and become more defined as consumer awareness continues to rise,” said Mark Retzloff, a venture partner at Greenmont Capital. “Our partnership with John Battendieri and his team has been very successful over the last four years and we look forward to continuing to play a role in Blue Horizon’s rapid growth and success.”
“Blue Horizon has successfully capitalized on the rapidly growing U.S. market for cleaner, healthier and more responsibly produced seafood,” said Paul Richardson, President of Renewal2. “We were extremely impressed with the Company’s strong growth in 2008 and 2009 and when given the opportunity to join the Company as investors, we eagerly joined. We are excited to help Blue Horizon continue its growth, offering healthy and environmentally responsible products to consumers.”
Greenmont Capital and Renewal2 were joined by Bradmer Foods, a venture capital firm focused on early stage specialty food businesses, as well as a group of individual investors, in the round of funding. Presidio Financial Partners acted as the exclusive financial advisor to Blue Horizon.
About Blue Horizon Foods, Inc.
Blue Horizon is one of the leading suppliers of branded and private label seafood products sourced exclusively from environmentally responsible sources. John Battendieri, a respected pioneer of organic retail brands such as Millina's Finest Pastas and Sauces and Santa Cruz Organics, founded Blue Horizon in 2005. Blue Horizon has fulfilled a tremendous demand for wild, sustainable seafood combined with value-added natural and organic entrées and appetizers. Underscoring every consumer’s right to clean sustainable and responsibly-sourced seafood, Blue Horizon only partners with conservation-compliant, third-party-certified operations and wild fisheries. Its model includes using no growth hormones, antibiotics, tripolyphosphates, preservatives, artificial colorings and more, all part of its mission to help protect the health and supply of aquatic ecosystems. Learn more at http://www.bluehorizonseafood.com.
About Greenmont Capital Partners
Greenmont Capital Partners is a venture capital fund founded by natural product industry veterans. The company focuses on early-stage companies in the $500 billion LOHAS (Lifestyles of Health and Sustainability) market. Greenmont’s management and investment committee personnel have served on the boards of numerous companies, including Crocs, Whole Foods Markets, Celestial Seasonings, White Wave, Gaiam, EcoTimber, Aurora Organic Dairy, Nude Skincare, Fresh & Wild, Seventh Generation, Wild Oats Marketplace, Blue Sun Biodiesel, Ganeden Biotech, EcoSmart Technologies, Horizon Organic Dairy, Traditional Medicinals, RSF Social Finance, Alfalfa’s Markets and IZZE Beverage Co. Additionally, each partner has been a venture-backed CEO, contributing firsthand entrepreneurial experience and the ability to facilitate positive relationships between operators and investors. Visit http://www.greenmontcapital.com for more information.
About Renewal2 Social Investment Fund (US) LP
Based in Vancouver, BC, Renewal2 (http://www.renewal2.ca) is a social venture fund that builds upon 15 years experience in successful high-impact investing. Renewal2 is dedicated to delivering superior financial returns by investing in some of North America's leading environmental and social mission businesses. Renewal2 focuses on underfunded sectors that are critical to a sustainable economy, early stage companies that require patient capital, and scalable businesses that can generate meaningful shifts in consumer behavior. Managed by the principals of Renewal Partners (http://www.renewalpartners.com), the Renewal2 team, including Paul Richardson, Joel Solomon, and Nicole Bradbury, brings over 30 years experience in social investing and capital markets to the fund.
About Bradmer Foods
Bradmer Foods (http://www.bradmerfoods.com) is a venture capital firm that brings together early-stage specialty food businesses and investors. Bradmer Foods partners with food entrepreneurs to help them grow their business through outside capital and management expertise while providing superior financial returns for investors.