The Farmer Companies (TFC) recently purchased WHISPS®, an internationally sold 100 percent cheese snack product that leads the category in sales.
To build on its remarkable achievement of reaching nearly $20 million in annual sales within three years through innovative brand extension, CEO and Founder of The Farmer Companies Adam Farmer explains, "We identify iconic brands with potential for new category expansion. WHISPS® adds to our portfolio with a U.S. category leader to lend greater awareness to our brands’ new shelf status.”
In 2021, TFC began by leveraging the iconic Cabot Creamery brand into shelf-stable, cheese-based categories, with intense flavors including boxed Mac & Cheese, Popcorn, and Potato Chips.
"Our business model is straightforward yet powerful. Cabot had faith in us first and appreciated our commitment to protecting and enhancing our licensed brands’ legacy of premium, high-quality products,” explains Farmer.
An expanded TFC portfolio of strategic licensing partnerships came in 2023 with Guinness and Nathan's, a press release stated.
"The WHISPS® acquisition represents the perfect addition to our portfolio," notes TFC Board Member Evan Metropoulos, a four-decade veteran of brand turnarounds including Vlasic Pickles and Bumblebee Tuna. "WHISPS offer consumers a unique value proposition: great taste combined with high-protein benefits, all from a single ingredient."
In discussing TFC's remarkable speed to market and brand stewardship, TFC President Bill Hooker notes, “Our success stems from alignment with partner brands that share similar values: commitment to quality, mindful business practices, and creating value for all stakeholders—from retail partners’ consumers to TFC investors.”
TFC’s current funding round has attracted Vermont’s leading early-stage investors, including Vermont Center for Emerging Technologies, The Dudley Fund, and Fresh Tracks Capital.
Managing Director at Fresh Tracks TJ Whalen cites CEO Adam Farmer's "deal-making acumen and refreshing energy" as key factors in their investment decision. "Their ability to reinvigorate established categories through partnerships like Guinness and complementary acquisitions like WHISPS® proves exceptional market insight and execution capabilities."
For more insights into strategic deals like this one, leave a tab open to DMN.
