jack & annie’s Positioned for Exponential Growth with the Close of $23 Million Series B Funding Round

BOULDER, Colo.–(BUSINESS WIRE)–jack & annie’s made by The Jackfruit Company is a sustainable plant-based brand made from a real, whole plant, jackfruit. jack & annie’s is proud to announce the closing of a $23 million Series B growth capital raise. The round was led by Creadev and Desert Bloom with major participation from Wheatsheaf and existing investors BetaAngels and InvestEco, who have all been known to partner with entrepreneurs and brands that build world-changing companies. The funds will help the brand continue to expand its distribution in the U.S. across retail, natural, club, and foodservice channels and propel the brand’s rise as the leader for delicious, real food in the plant-based meat category.

Harvard pre-med student Annie Ryu was introduced to jackfruit, also known as “jack” by local farmers at a market in India. She immediately loved the meat-like texture and the delicious versatility in dishes but was disappointed to learn that 70% of jackfruit goes unused. Annie decided to make it her mission to convert this underutilized crop to nutritious, delicious food and an income stream for farming families. Setting itself apart from other plant-based meat alternatives, jack & annie’s is more than just a plant-based brand, it is made from a whole plant grown on trees, not in a lab, and always uses jackfruit as the first ingredient.

jack & annie’s is the next generation of plant-based meat. In less than a year in business, the brand has rapidly gained distribution nationally at over 1500 stores operated by leading food retailers such as Whole Foods, Sprouts, Meijer, Wegmans, Hannaford, Target, and Giant. According to SPINS data in the Natural Channel for 24 weeks ending 10/3/21, jack & annie’s was the 3rd largest frozen brand in the entire plant-based category based on dollar sales and the #1 nugget based on dollar velocity.

“We are excited that our investors are partnering with us to create the next generation of plant-based – real foods, from a real plant. They are experienced, connected investors who share our vision and values – to transform the global food system for the good of people and planet,” said CEO and founder of jack & annie’s Annie Ryu. “We’ve known Creadev and Desert Bloom for many years and are extremely excited to take these strong relationships to the next level, joining hands as shareholders. With their help, we are committed to continuing to craft delicious foods that deliver the benefits of plants, improving the health of our bodies, the health of the planet, and the livelihoods of our farmers.”

“Annie and her team are dedicated to making a real positive impact, from partnering directly with farmers to formulating excellent, nutritious whole plant foods to reduce meat consumption. Building a new food system for the future in a fast-growing plant-based market, prioritizing doing what’s right versus what is easy, convinced all of jack & annie’s mission-driven investors,” said Delphine Descamps, Managing Director of Creadev.

“We are thrilled to partner with Annie and her dynamic team. jack & annie’s, simply put, is unique in the marketplace. Unlike other brands, most of which are highly processed, jack & annie’s alternative meat products are made from jackfruit—a whole food that has tremendous nutritional value. We believe the adoption of these products will help improve consumer health, reduce animal production, promote regenerative agricultural practices and add incremental income to farmers,” said Sohel Shikari, co-founder of Desert Bloom.

jack & annie’s is available in delicious flavors such as crispy jack nuggets, buffalo jack wings, breakfast jack sausage links and patties, jack dinner sausages, and smoky jack pulled pork in the frozen and refrigerated plant-based set. For more information on jack & annie’s, visit www.jackandannies.com or follow them on Instagram, Facebook, and Twitter @jackandannies.

About the company

jack & annie’s made by The Jackfruit Company, was founded by Annie Ryu, and is on a mission to create real, delicious foods with great flavor and texture in a sustainable way by using jackfruit, an underutilized crop. The Jackfruit Company operating the largest global jackfruit supply chain, is a leader in R&D and now accounts for over 70% of all retail jackfruit products sold. jack & annie’s is more than just a plant-based brand that creates a delicious alternative to meat, it is made from a whole plant grown on a tree with jackfruit always as the first ingredient. From crispy jack nuggets to savory breakfast jack sausage patties, the brand offers foods that are satisfying for meat eaters and plant eaters alike. Bite-by-bite, jack & annie’s builds a better planet and supports farming communities in India by preventing an underutilized crop from going to waste and provides over 1,200 farming families with 10-40% of their income. For more information on jack & annie’s, visit www.jackandannies.com or follow them on Instagram, Facebook, and Twitter @jackandannies.

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