Food & Drinks

Hershey joins funding round for Quinn


LOUISVILLE, COLO. — Quinn, maker of microwave popcorn and grain-free pretzels, has closed additional Series D funding, including an undisclosed minority investment from The Hershey Co. The company plans to use the proceeds to support new distribution and product innovation.

“Quinn shares Hershey’s commitment to sustainable business practices, inclusivity, listening to consumers, and being transparent about how their products are made and what goes into them,” said Steve Voskuil, chief financial officer of The Hershey Co. “Its emergence as a leader in natural foods is impressive, and we look forward to supporting their next phase of growth.”

Founded in 2010, Quinn promotes “farm-to-bag” ingredient transparency for its snacks that are sold in more than 7,500 retail stores nationwide. Over the past year, the company expanded into Walmart stores and increased distribution in Whole Foods Market, Kroger and Wegmans. The company saw additional growth through partnerships with online retailers Thrive Market, Hungryroot and Imperfect Foods. Overall, Quinn’s revenue increased 65% this year over the prior year, driven by the increased footprint and new product development, according to the company.

“We are thrilled to have the support of Hershey, a company that is leading the way in gender equality by fostering an inclusive work environment and closing the pay gap,” said Kristy Lewis, founder and chief executive officer of Quinn. “The Quinn team and I are honored to be backed by a company leading change in our space. As Quinn rapidly expands distribution and sets future strategic goals, timing couldn’t be better. Hershey’s keen eye for category disrupting brands and building them into household names makes them an invaluable partner. After 10 years of creating a solid foundation to build from, we are looking forward to the next chapter in our story.”

The investment from Hershey adds to Quinn’s $3 million Series D funding round announced in September and led by the company’s board of directors and existing investors BFG Partners, Echo Capital, John Foraker, Gil Fronzaglia, Sunil Thakor, and an investment arm of the Lissette family.

 

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