The Ugly Company Announces $9M Series A Funding Round to Accelerate Nationwide Growth
The Farmersville, CA-based company addresses the 108B pounds of food wasted in the United States annually
FARMERSVILLE, Calif., February 7, 2023 (Newswire.com) - The Ugly Company, a farmer-led producer of upcycled dried fruit snacks, today announced the completion of a $9M Series A round of funding. The Ugly Company will use the funds to expand its processing capacity to meet surging demand while accelerating expansion nationwide.
The funding round was led by Sun Valley Packing, a Reedley-based fruit grower and distributor, and Texas-based Value Creation Strategies. Musician Justin Timberlake and Valley Ag Capital Holdings (VACH) also participated in the round. Founder Ben Moore is proud that the majority of the company's funding was sourced locally from the San Joaquin Valley.
"The millions of pounds of fruit that gets thrown away every day in Central CA is heart-breaking," said Ben Moore, founder and CEO of The Ugly Company. "My Dad is a farmer that raised me on the seat of a tractor, but it wasn't until I returned home from the Army, and was working as a truck driver, that I looked at this food waste from a new perspective. I felt called to action to ensure every piece of fruit grown in the Valley is consumed by people, not landfills and livestock. This Series A funding is huge for us. We can finally address our infrastructure needs and expand sales nationally."
Rapidly growing, The Ugly Company's snacks are available in Sprouts nationwide, select REI, Whole Foods, and HyVee stores, and will be available in Kroger Banners (Ralph's, Fred Meyer, QFC, King Soopers, and Fry's) later this year on the West Coast. Current dried fruit include cherries, peaches, white nectarines, apricots, and kiwis.
"Ben and his family have farmed next door to us for generations. I didn't know Ben personally until he was hauling fruit from our packing shed," said Casey Jones, CEO of Sun Valley Packing. "In between loads, Ben often sought me out for help with the new company he'd started. My family invested in The Ugly Co. because we share Ben's passion for solving food waste at our farm. We also know that Ben has the hand-in-the-dirt, altruistic work ethic that it takes to solve this enormous problem."
Last year The Ugly Company prevented more than 2.17M pounds of food waste by upcycling. In 2023, it aims to turn 3M pounds of perfectly good fruit, which otherwise would've been tossed or fed to cattle, into dried fruit.
ABOUT THE UGLY COMPANY
The Ugly Company was founded by a 4th-generation farmer, Ben Moore, to prevent food waste by upcycling 'Ugly' fruit and transforming it into dried fruit snacks. These healthy snacks are All-Natural, Non-GMO, Single-Ingredient, and good for the environment. For more information, visit www.theugly.company.
Source: The Ugly Company
Categories: Agriculture and Horticulture, Agriculture and Horticulture
Tags: Agriculture, Food, retail