SCOTTSDALE, ARIZ.--(BUSINESS WIRE)--
Mikey’s, the ground-breaking baked goods company, today announced that it is partnering with Factory LLC, a new innovation and scale-up operating company based in Bethlehem, PA. Factory has agreed to an initial investment of $5M in two tranches, and will commit its full complement of resources and relationships to help Mikey’s achieve its strategic goals.
Mikey’s is a next generation gluten free baked goods company offering certified gluten free, plus combinations of the most widely sought after better-for-you attributes, including certified paleo, grain free, dairy free, soy free, peanut free, non-GMO, diabetic friendly, vegan and Kosher – all delivered with great taste.
“Eating gluten free is critical for people with celiac disease, and valued by many people as a lifestyle choice,” said Michael Tierney, Founder and CEO of Mikey’s. “But just removing gluten doesn’t make food better for you. I started Mikey’s to meet the growing demand for baked goods that offer more than gluten free: unparalleled nutrition with superior taste.”
Tierney continued, “We are beyond ecstatic to partner with Rich Thompson, Tim Pollak and their incredibly talented and accomplished team, and I’ve chosen to relocate Mikey’s to the Lehigh Valley to take full advantage of Factory’s assets and resources. In the short time we’ve been working together, Mikey’s has made tremendous strides. Our future is very bright.”
Factory’s investment will be Mikey’slargest round of funding since its 2014 launch. Richard Thompson, Founder and CEO of Factory LLC, said, “We are thrilled to be adding Mikey’s to our portfolio. The brand meets all our key criteria: innovative, differentiated products that address real consumer needs and taste good, led by a great entrepreneur. We think Mikey’s has huge potential.”
Currently available in over 3,500 stores, the Mikey’s frozen line includes three varieties each of English muffins and muffin tops, plus sliced bread, pizza crust and, its newest entry, vegan tortillas. With a commitment to clean eating, simple ingredients, low carbohydrates and calories, and great taste, Mikey’sproducts have broad appeal to health-conscious eaters and meet the needs of communities with alternative dietary needs, including celiacs, diabetics and paleo diet fans.
Mikey’s meets the growing demand for increased nutrition from clean label, free-from baked goods – going beyond certified gluten free to offer multiple healthful benefits, including certified paleo, grain free, dairy free, soy free, peanut free, Kosher and non-GMO. In addition to superior nutrition, Mikey’s product offering, which currently includes English muffins, muffin tops, sliced bread, pizza crust and tortillas, is characterized by great taste, a product of Mike Tierney’s classical chef’s training. Mikey’s is currently available in over 3,500 stores in the natural, mass and grocery channels. www.eatmikeys.com
Factory LLC is a new innovation and scale-up operating company that invests in emerging food, beverage and animal health companies that are capitalizing on the growing consumer demand for innovative, clean label, better-for-you foods and beverages. Factory is led by entrepreneurs who created +$3B in enterprise value in 3 businesses: American Italian Pasta Company, The Meow Mix Company and Freshpet. Factory is further differentiated by a first-of-its-kind, 40,000 square foot facility in Bethlehem, PA – an innovation center with scale-up capabilities that accelerate EBITDA growth and de-risk investments. www.factory-llc.com
Copyright Business Wire 2017