Snap Kitchen raises big chunk of equity funding

Sep 10, 2013
Austin Business Journal

Austin-based Snap Kitchen has secured financial backing from an East Coast private equity firm, which has invested with high profile brands such as Restoration Hardware, Outback Steakhouse and Austin-founded Sweet Leaf Tea


The exact amount of Catterton Partners' investment was not disclosed, but Snap Kitchen recently filed a Form D with the U.S. Securities and Exchange Commission reporting the sale of $13 million in securities. The documents show the issuer as Fitness Food Holdings Inc.


Snap Kitchen Co-founder Martin Berson said existing partners also participated in the equity funding. The money will support an aggressive expansion schedule in Texas, doubling its store count in Houston to six by the end of the year and opening stores in Dallas early next year


Berson characterized the Greenwich, Conn.-based Catterton Partners as “staunch supporters of Austin businesses,” and said he is thrilled with the new relationship with them


“We anticipate that the financing provided will support a thoughtfully aggressive cycle of growth for the next three years,” Berson said


Snap Kitchen sells prepared foods and cold-pressed juices primarily, which cater to vegan, gluten-free, paleo and vegetarian diets. Made-to-order salads are available at some locations


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