TEMPLE, PA – Today, plant-based food brand, The Honest Stand, announced the completion of a $1M seed round with PA based The Giorgi Companies, Inc. (TGCI.) The Company will use the funds to provide working capital and sales & marketing resources to support the rapidly growing demand for its products.
The Honest Stand was created in 2010 when Colorado native Alexandra Carone set out to formulate a superior cheese dip alternative after being diagnosed with celiac disease and an intolerance to dairy products. After developing and improving on several formulations, she – and co-founder Jeremy Day – saw early success among the community they served as they fulfilled a need for indulgent dietary friendly foods. By 2015, the two were producing and selling their dips at local farmer’s markets and independent grocers throughout the Denver area, with a mission to make it easier and more enjoyable for folks to choose plant-based foods. The Company has been recognized with several regional and national awards including the 2018 Expo West NEXTY award for “Best New Dairy/Meat Alternative,” and boasts annual growth rates of 180% from 2016-2017 and 275% from 2017-2018. To support this rapid growth, the team has grown into a dedicated 8,000 square foot manufacturing facility in Louisville, Colo. to continue scaling its production.
Brian Loiseau – who leads sales and innovation for The Giorgi Companies’ Foods division – commented on this new partnership. “As a 90-year-old company in the agricultural and retail space, we are very clear on the consumer trends that are driving and transforming grocery. Alex and Jeremy are passionate and talented young entrepreneurs who have tremendous energy and a strong sense of purpose. Building a new food brand is very hard work. We have no doubt that this team has the discipline, drive and commitment to quality to build a trusted national brand among rising plant-based consumers.”
The Honest Stand’s first and current line of convenient comfort foods, plant-based cheese style dips, are made from organic whole food ingredients for a remarkably familiar cheesy taste and texture. Their five flavors – Garlic Parm Style Dip, Cheddar Style Dip, Smoked Cheddar Style Dip, Mild Nacho Dip and Spicy Nacho Dip – are Certified Organic, dairy free, gluten free, Certified Paleo and Certified Vegan. All varieties are packaged in BPA-free, microwaveable and recyclable containers and each serving contains no more than 30 calories and 1.5 grams of fat.
“Our driving vision from the start was to develop plant-based convenient comfort foods that served growing dietary needs while not compromising on ingredients, taste or texture,” said Carone, who serves as COO and leads all aspects of product development and operations. Co-founder Jeremy Day, who serves as CEO and head of sales, is confident that the business is only now ramping up – with significant runway ahead. “Our grassroots Company story and commitment to manufacturing excellence is genuinely exciting to share with retailers. They understand the growing significance of this category and the desire of their shoppers to connect with authentic brands.” Day added – “We’re so excited about this milestone partnership with The Giorgi Companies. With access to the capital and strategic support that TGCI brings to the table, we are well positioned to continue to grow our retailer partnerships nationwide while providing increased marketing support to connect our brand with new consumers.’
The demand for non-dairy cheese and cheese-style products has drastically increased in recent years, driven by intolerances to lactose and gluten, and rising consumer preferences toward animal-free 100% plant-based foods. According to a recent Nielsen study published by the Plant Based Foods Association, Plant Based Foods grew 20% to top $3.3B with the plant-based dairy alternative segment growing at +50%.
Started in 1928 and based in Blandon, Pennsylvania, The Giorgi Companies, Inc. (TGCI) is a privately held fresh produce, value-added food manufacturing and food packaging company with retail distribution nationwide. For more information, see www.thegiorgicompanies.com
Source: The Honest Stand