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Inc. Names Carbonate to Its 2025 List of the Fastest-Growing Private Companies in the Midwest


News provided by

Carbonate

Apr 01, 2025, 15:15 ET

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Carbonate is a creative agency that builds, reinvigorates, and grows brands and hospitality concepts.
Carbonate is a creative agency that builds, reinvigorates, and grows brands and hospitality concepts.

The hospitality-focused creative agency debuts at #45 on the prestigious ranking

CINCINNATI, April 1, 2025 /PRNewswire-PRWeb/ -- Carbonate, a boutique creative agency that builds, reinvigorates, and grows brands and hospitality concepts, is thrilled to announce that it has ranked #45 on the 2025 Inc. Regionals: Midwest list—the most prestigious ranking of the fastest-growing private companies in the Midwest that have demonstrated significant success in their respective industries.

Five Years, Over 100 Brands

"To be recognized by Inc. for our growth only five years later is a meaningful milestone, and a testament to the incredible clients who've trusted us to help shape their future," says Candace MacDonald, Co-Founder & Managing Director of Carbonate.

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Founded as an independent agency in early 2020, Carbonate emerged from the consulting division of award-winning San Francisco-based hospitality marketing firm, af&co.—just before the pandemic delivered a seismic shift to the industry.

"We launched Carbonate during one of the most uncertain times for the hospitality industry, when everything was being reimagined," says Candace MacDonald, Co-Founder & Managing Director of Carbonate. "That experience sharpened our focus on smart strategy and bold creativity, helping brands to rethink, refresh, and reemerge stronger. To be recognized by Inc. for our growth only five years later is a meaningful milestone, and a testament to the incredible clients who've trusted us to help shape their future."

A creative agency at the intersection of strategy, design, and communications Carbonate has partnered with over 100 clients over the past five years—ranging from international corporations, to emerging small businesses—delivering strategic brand transformations across the U.S., with select projects in Europe. Carbonate's portfolio spans multi-concept restaurant groups, independent restaurants and bars, global QSR chains, hotels, tourism, wine and spirits, coffee, food retail, and hospitality tech. The agency has designed and launched over 26 brand identities—developing entirely new concepts, and refreshing legacy brands to match evolving markets.

Beyond branding, the company specializes in creating comprehensive, integrated brand communication campaigns, using strategic website design, organic and paid social media, influencer partnerships, and email marketing to drive engagement and conversions, and strengthen brand equity.

Industry Insights That Lead the Conversation

Carbonate has also gained notoriety for its industry insights, working with brands to spot and apply emerging trends, and contributing to publications including Nation's Restaurant News, Forbes, and Better Homes & Gardens.

Building on the success of its highly regarded Hospitality Trends Report—published in partnership with af&co. for the past 17 years, and featured in The New York Times—Carbonate continues to shape industry dialogue with its latest trends-focused initiative, Insight Out. Designed as a timely resource for marketing and operations leaders, Insight Out is a weekly publication that delivers actionable insights on key hospitality and branding trends, emerging social media movements, and broader cultural shifts impacting the industry.

"Over the years, we've built a reputation for being ahead of the curve, but what really sets us apart is knowing what to do with the trends we spot," says Andrew Freeman, Founder of af&co. and Co-Founder of Carbonate. "We don't just report on where the industry is heading—we help brands turn that knowledge into action, relevance, and revenue."

With deep roots in strategy, design, and hospitality marketing, Carbonate remains at the forefront of industry innovation, equipping brands with the insights and tools needed to thrive in an ever-evolving landscape.

About Carbonate

Carbonate is a creative agency that builds, reinvigorates, and grows brands and hospitality concepts. Specializing in food, beverage, restaurants, hotels, and hospitality tech/B2B, Carbonate's services include brand strategy, identity development, trend insights, design, and integrated brand communications. Prior to launching as an independent company, Carbonate was a division of San Francisco-based af&co. Together af&co. and Carbonate produce an annual Hospitality Trends Report, with insights consistently cited by outlets including The New York Times, Forbes, and more. Carbonate also produces Insight Out, a weekly insights publication dedicated to emerging hospitality & branding trends. Carbonate was ranked #45 on the 2025 Inc. Regionals: Midwest list—the most prestigious ranking of the fastest-growing private companies in the Midwest. Follow along @carbonategroup.

About Inc.

Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of its community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating the future of business. Inc. is published by Mansueto Ventures LLC, along with fellow leading business publication Fast Company. For more information, visit www.inc.com.

Media Contact

Rachel Green, Carbonate, 1 9143104712, [email protected], http://www.carbonategroup.com/

SOURCE Carbonate

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