LesserEvil LLC., makers of organic popcorn and salty snacks, announced that it received a significant minority growth investment from Aria Growth Partners, a consumer-focused private equity firm. The round was a combination of primary and secondary investment. Participation in the investment included existing investors Valor Equity, Invest Eco, and Touch Capital. The investment will enable LesserEvil to fuel continued growth, expand its manufacturing operations, and open additional retail distribution.
Since its founding in 2005, LesserEvil has built a following based on its combination of snacks made from organic and better-for-you ingredients available at mainstream prices, underpinning its mantra of “mindful snacking.” Over the last two years, LesserEvil has experienced break-out growth and has driven a disproportionate amount of the volume growth of the popcorn category across mainstream channels. With this growth investment, LesserEvil is poised for significant scale and accelerated consumer adoption all while continuing their mission of making healthy, less-processed, and sustainable snacks more accessible to everyone.
“Charles Coristine and Andrew Strife are truly outstanding entrepreneurs,” said Trevor Nelson, a partner at Aria Growth. “We know how hard it is to build such a high-growth and highly profitable, mainstream food brand. It’s a testament to their ingenuity and discipline that they’ve been able to create a beloved brand and a first-rate business as well. We are thrilled to partner with them and their outstanding team.”
"We’re excited to have an experienced new partner like Aria join us as we embark on this next phase of accelerated development and take the LesserEvil brand to new heights,” said Charles Coristine, CEO of LesserEvil.
Having originally built a significant business in the natural grocery channel, LesserEvil has had explosive growth and consumer adoption over the past two years as it has expanded distribution into mass market and conventional grocery retailers. LesserEvil is currently sold in leading retailers such as Target, Walmart, Whole Foods Market, Safeway Albertson’s, and many others.
LesserEvil manufactures all of its products at its facilities in Danbury and New Milford, Connecticut. Part of the investment proceeds will help expand its production facilities to keep pace with its growth.
“2024 is the year of the multipack and we are making big investments in our production capabilities (with our 2nd factory now up and running) to ensure we can get on-the-go packs in the hands of all of our consumers. Our ability to self-manufacture gives us tremendous upside to continue delivering the innovation and better-for-you snacks that consumers crave,” added Coristine.
