The New Primal has ties to many categories as a purveyor of clean-ingredient meat snacks, seasonings, dressings, and condiments. As it continues to expand, the company announced the close of its Series B funding round with a $15 million investment from Manna Tree.
"We feel a strong conviction that we've found the ideal partner to walk alongside to help elevate our brand to a new level in Manna Tree," said The New Primal Founder and CEO Jason Burke. "The synergies between their team and ours were unparalleled through our exploration process. Manna Tree's commitment to improving human health through nutrition aligns perfectly with our mission of developing compelling ways to get more hands in the kitchen and hearts around the table."
Manna Tree's significant injection of funds will boost The New Primal's organizational design, distribution, and marketing reach, a press release stated.
The investment will also support key hires for The New Primal, as well as provide working capital support to meet significant expansion opportunities at retail.
"Not only is The New Primal an excellent investment from a growth standpoint, but the company's innovative, clean ingredient platform supports Manna Tree's vision for a future where health, well-being, and longevity is attainable," said Pam Shepherd, Managing Director, Manna Tree. "Starting with its signature meat snack products, The New Primal has proven that it can expand across categories with the same, fresh flair that has made its sauces, seasoning, and condiments a success in the sector."
The release also noted that the jerky category has long been a source of buzz for major investment firms given the consumer demand for convenient, portable, and high-protein foods. Early backers of The New Primal included individual investors alongside early-stage venture capital firm, Third Prime Capital.
We’ll continue to keep our finger on the pulse of specialty food news, so stay tuned.