The investment will go towards equipment and facility enhancements, key hires, innovation and marketing initiatives. The company will also be implementing a board of directors led by Mike Fata as Chairman of the Board.
Says Jim Taylor, Partner at Forage: “Forage is really excited to invest in a leading vegan cheese company that provides consumers with a real food alternative to traditional cheeses.”
Founded in 2015 by vegan chef Margaret Coons, who initially sold the cheeses in farmers’ markets, the brand expanded into more than 1,900 retail outlets in Canada and entered the US with vendors including Whole Foods Market and Sprouts Farmer’s Market, just this month. Nuts for Cheese reported 50% YOY growth to vegconomist this April as it continued to expand through the US.
“From the early days I’ve worked hard to surround myself with the right partners,” said CEO Margaret Coons. “It’s been such a journey, from a rented commercial kitchen to building out our current 25,000 square foot facility. What once looked huge to me is now quickly becoming ready for more expansion.
“This investment comes at a perfect time for us to be able to keep pace with our growth and I couldn’t be happier partnering with a company like Forage which has extensive experience in the food space and such an incredible team,” she adds.
Click here to read our recent interview with Margaret and find out more about the brand’s origin story and plans for the future.