Cappello’s Secures Series B Funding Round

Cappello's, the makers of frozen-fresh, simple, real-ingredient foods, announced today the closing of a significant funding round led by Alliance Consumer Growth ("ACG"), a prominent consumer- and retail-focused growth equity firm that has made significant contributions to the food and beverage world with investments in popular brands such as KRAVE Jerky, BarkTHINS, EVOL Foods, Blaze Pizza and Shake Shack. Finn Capital Partners, a group that supports businesses in high-growth consumer products categories and has helped fund better-for-you food brands including Olipop, Barnana, Pressed Juicery and more, also participated in the round.

Cappello's has been at the head of clean-ingredient innovation for nearly 10 years. Using the power of the almond, the team has changed the idea of what traditional pasta, pizza and cookie dough could look like by taking grains out of the equation. Co-Founders and co-CEOs Ben Frohlichstein and Stacey Marcellus focused on real-food ingredients and turned traditional comfort foods into nutritionally relevant, lower carb, higher protein creations that could be enjoyed by everyone. Cappello's has found enormous success in the frozen aisle, launching into 30% more storefronts in 2020 than in 2019 with their biggest retail partners being in the Natural Channels.

The new funds will accelerate Cappello's growth by allowing the brand to fuel the expansion of its offerings as well as drive new distribution in key markets and connect with new consumers. The brand is in an ideal place for growth as frozen pizza, one of Cappello's key categories, is a $5.9B segment that is up 30% in the last 6 months. Quality-focused brands like Cappello's have helped to drive shoppers to the frozen aisle in recent years and even more so during the pandemic. From 2019 to 2020 Cappello's experienced 74% sales growth and will also be utilizing this investment to hire additional talent to help the brand continue to meet new demand. Consumer engagement and response has been extraordinary and the brand is excited for the continued years of growth.

"As we close this round of funding, we want to thank our partners for their support and we're so elated that we can collaborate with them to propel our vision of offering delicious, simple, grain-free foods to all," said Ben Frohlichstein, co-Founder and co-CEO of Cappello's. "With our sights set on new distribution and innovation, we are closer than ever to reaching families across the nation that are looking for convenient, clean ingredient meal solutions that never compromise on taste or texture."

"Cappello's is one of the most exciting emerging food brands, and we are thrilled to have this opportunity to be a partner to the business and the team," said Daniel Hodges, Vice President of ACG. "Their effectiveness in connecting with consumers is illustrated by their impressive growth across various sales channels, and we look forward to supporting the Cappello's team going forward."

For more information on Cappello's and its roster of frozen-fresh, grain-free products, please visit www.cappellos.com.