Angie's Artisan Treats, maker of Angie's Kettle Corn and Angie's Boomchickapop, is getting fresh investment from a new source, TPG Growth, a unit of the world's largest private equity firm.
The size of the investment was not disclosed. TPG Growth is a unit of TPG, the Fort Worth, Texas-based firm with $66 billion in assets under management. TPG Growth focuses on consumer products, retail, health care, energy and tech firms.
The healthy-snack company was founded by Angie and Dan Bastian in North Mankato in 2001 as an outdoor vendor of kettle corn. The Bastians and existing management will remain with the company.
Another investor in the company, Sherbrooke Capital, exits its investment. Sherbrooke first invested in Angie's in May 2011.
Angie's Artisan Treats has grown from an outdoor vendor at local fairs, festivals and sporting events into a national brand. Its Boomchickapop popcorn is sold in natural food, grocery, club and mass retail outlets in 50 states and Canada. The company has approximately 150 employees.
The new investment by TPG Growth is expected to fuel the company's next wave of development. "Our team is excited about this new chapter for Angie's Boomchickapop and we are delighted to join with a strong partner like TPG Growth who can help us as we scale the business," said Angie Bastian in a news release.
Patrick Kennedy • 612-673-7926
