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PRESS RELEASE
Greenmont Capital Partners
Provides Growth Capital to Madhava Honey Ltd.
Industry veteran tapped to help lead growth in alternative
sweetener company
BOULDER, Colo., July 27, 2010 --
Greenmont Capital Partners, a venture capital firm focused
on the Natural Products industry, today announced it has
completed an equity investment in Madhava Honey Ltd., a
leading alternative sweetener company. Greenmont’s
investment will help the fast-growing company extend its
existing offering into new alternative sweetener products
while continuing to grow distribution channels to service
increased consumer demand.
Founded in 1973 as a honey producer, Madhava has become a
recognized innovator in the sweetener category, dedicated to
providing healthy alternatives to highly processed, refined
sugars and artificial sweeteners. The company is expanding
operations from its humble roots in Lyons, Colo., to an
additional manufacturing facility in Mead, Colo., in order
to keep pace with growing demand.
Industry veteran Hass Hassan will join Madhava as lead
director. Mr. Hassan has known company President Craig
Gerbore for over 35 years, their relationship stemming from
his role as co-founder, former president and CEO of the
Alfalfa’s Market retail chain during the 80s and 90s.
“I fondly remember the days when Craig would pull his
infamous pickup truck into the Alfalfa’s parking lot and
unload barrels of fresh honey for our store,” said Hassan.
“I am thrilled to be working with him and the rest of the
Madhava team. They’ve built an incredible company and have a
tremendous opportunity in front of them.”
“I am very pleased to announce this investment in Madhava,”
said Gerbore. “Greenmont has an excellent reputation in the
market and is known for working as a trusted partner with
management. I believe their collective experience will be
very helpful as we extend our product offerings and continue
to expand distribution.
“Candidly, I welcome more expertise around the table,”
Gerbore continued, “as the recent growth at Madhava has been
unprecedented. Working specifically with Hass is like a
dream come true considering our long history together.”
According to a May 2009 report by the Freedonia Group,
Americans alone consumed nearly $12 billion in sweeteners in
2008 and alternative sweeteners are expected to account for
12 percent of the US sweetener market by 2013.
About Madhava Honey Ltd.
Madhava Honey Ltd. is located in the foothills of Boulder
County, Colo. The company has been an active and committed
participant in the local honey market for 37 years and
counting. Over that time, Madhava has established itself as
the premier alternative sweetener company, providing its
unique sweeteners internationally through expanding channels
of distribution. To learn more, visit
www.madhavahoney.com.
About Greenmont Capital Partners
Greenmont Capital Partners is an investment fund founded by
Natural Products industry insiders, focusing on early-stage
companies in the $500-billion Lifestyles of Health and
Sustainability (“LOHAS”) market. Greenmont’s operations are
strategically headquartered in Boulder, Colo., a city widely
regarded as the epicenter or "Silicon Valley" of the Natural
Products industry, providing optimal flow of information,
contacts, resources and investment opportunities in the
LOHAS space. Additional information is available at
www.greenmontcapital.com.
Contact:
Jessica Ardery
Greenmont Capital Partners
(303) 444-0599 x1
[email protected]
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