Ithaca Cold-Crafted, one of the fastest growing brands in the hummus category, announces the closing of $2.7 million of new growth capital from LiDestri Food and Drink, a premier private label and contract manufacturer of food, beverages, and spirits.
Ithaca Cold-Crafted experienced 147 percent growth in retail sales over the past 12 months. Driven by consumer demand for brands that offer fresh, simple ingredients and better tasting products, Ithaca Cold-Crafted has been able to grow rapidly in the soon to be $1 billion hummus category. The brand is currently available at more than 3,000 retail doors across the U.S., including Wegmans, Publix, Stop & Shop, Shoprite, and The Fresh Market. New capital allows the brand to continue retail expansion into new geographies while building organizational capacity to support continued growth. The company recently hired Todd Mullane as its first Vice President of Sales. Mullane brings more than 18 years of sales management and fresh food industry experience to the organization. He joins Kirby and Chief Operating Officer, Frank Cavallaro, on the Ithaca Cold-Crafted executive team.
"We are thrilled and humbled by the passion and enthusiasm for our brand,” said Founder & President Chris Kirby. "I started Ithaca Cold-Crafted with a belief that the world didn’t need another hummus brand; it needed a better hummus brand. At Ithaca Cold-Crafted, we use the freshest ingredients possible to deliver the best-tasting hummus on the market. This capital will allow us to continue to support our current retail partners and pursue expansion into new channels and geographies. With Todd’s recent addition to the team, we have a real focus and commitment to scaling our distribution nationwide. We’re ready to accelerate things in 2019 and introduce more people to their new favorite hummus brand!”
“We are excited by the opportunity to continue our partnership with Ithaca Cold-Crafted. This is a brand with unlimited potential, truly differentiated products, and a principled founder who is steeped in the belief to always do the right thing," said Giovanni LiDestri CEO of LiDestri Food and Drink. “During the last year, Chris assembled a stellar team and support network second to none. We at LiDestri look forward to helping drive their growth to a national scale.”
A trained chef, Kirby founded Ithaca Cold-Crafted in 2013 in a small stand at the Ithaca Farmers Market. Since the beginning, its hummus has been made with the freshest ingredients, like cold-pressed lemon juice, raw garlic, and organic sunflower oil. Ithaca Cold-Crafted is also made without GMOs and contains no preservatives, no citric acid, and no canola or soy. In August of 2017 it began using the High Pressure Processing (HPP) process as an alternative to the heat pasteurization step traditionally used by hummus brands to preserve their products. This helps keep the ingredients raw, full of nutrients, and alive with flavor. That’s what makes Ithaca Cold-Crafted taste fresher than other hummus brands. Its six unique flavors are packaged in distinctive white, square tubs with “This Hummus Tastes Fresh” on the top.
For more information about Ithaca Cold-Crafted, please visit www.ithacacoldcrafted.com.