Blue Horizon Foods, Inc., a leading supplier of healthy and environmentally responsibly sourced branded seafood products, announced the completion of a growth equity financing led by Greenmont Capital Partners I, LP and Renewal2 Social Investment Fund (US) LP.
In just a few short years, Blue Horizon has established a branded leadership position within frozen, prepared natural and wild seafood offerings as an innovator and a pioneer. The new funding will allow Blue Horizon to execute on the companys strategic growth initiatives, including product development and the continued expansion of distribution within the natural, conventional and mass grocery channels.
In staying true to our mission of delivering healthy seafood products that are sourced responsibly, Blue Horizon has addressed a problem area for consumers and quickly built a loyal following, said John Battendieri, Founder and CEO of Blue Horizon. In partnering with leading like-minded investors such as Greenmont and Renewal2, we will have the opportunity to broaden our reach and offer more consumers a unique, sustainable alternative. In addition to capital, our investors bring strength in operations, distribution and strategy, giving us depth and leverage that few early stage companies can claim.
Blue Horizon is the leader in a market that we feel will only grow and become more defined as consumer awareness continues to rise, said Mark Retzloff, a venture partner at Greenmont Capital. Our partnership with John Battendieri and his team has been very successful over the last four years and we look forward to continuing to play a role in Blue Horizons rapid growth and success.
Blue Horizon has successfully capitalized on the rapidly growing U.S. market for cleaner, healthier and more responsibly produced seafood, said Paul Richardson, President of Renewal2. We were extremely impressed with the Companys strong growth in 2008 and 2009 and when given the opportunity to join the Company as investors, we eagerly joined. We are excited to help Blue Horizon continue its growth, offering healthy and environmentally responsible products to consumers.
Greenmont Capital and Renewal2 were joined by Bradmer Foods, a venture capital firm focused on early stage specialty food businesses, as well as a group of individual investors, in the round of funding. Presidio Financial Partners acted as the exclusive financial advisor to Blue Horizon.
Source: Blue Horizon Foods Inc.