Dive Brief:
- Food brand Goodles has raised $13 million in a Series A funding round led by L Catterton.
- Best known for its “better-for-you” boxed mac and cheese, Goodles will use the fresh funding to build out its C-suite with three new executives and increase U.S. production capacity to meet rising demand, according to a company press release.
- Stacie Hajduk has been appointed the brand’s chief marketing officer, Nathan Lord was named chief financial officer and John Casey was named senior vice president of sales.
Dive Insight:
Goodles has steadily grown its business while expanding its offering since it launched in 2021.
The food brand launched with four mac and cheese flavors, but now offers 12 SKUs. Goodles also achieved 33 times growth in 2022 and is on pace to triple its sales this year, the company said in its announcement.
Goodles entered into its second category in March with the launch of dry pasta products. The brand also expanded its wholesale distribution after securing its first retail partnership in April 2022. Goodles is now available in over 35,000 points of retail distribution across the country, including Target, Whole Foods, Publix, HEB, Wegman's and Sprouts Markets. It also sells online on its own website.
"The growth we've experienced is a testament to our loyal fans and consumers,” Gal Gadot, actor, producer and founding partner of Goodles, said in a statement. “I would never have imagined that my favorite meal as a child — mac and cheese — would become a business venture of my own. I am grateful that I can contribute to bringing joy to people's dining room tables."
Goodles sets itself apart from conventional mac and cheese brands by touting its products as being infused with substantial portions of protein, fiber and nutrients.
"We can't outspend our deep-pocketed, big-brand competition. We have to be more authentic and more unexpected and go places they simply cannot,” Jen Zeszut, co-founder and chief executive officer of Goodles, said in a statement. "We are excited about this partnership with L Catterton — the best-of-the-best when it comes to scaling consumer brands. The influx of capital to keep up with demand, coupled with the ability of our extraordinarily creative and results-oriented team to produce unconventional and joyful executions, positions us perfectly for continued success.”
Although the funding landscape looked bleak at the start of 2023, more brands have been able to secure capital in recent months, including Kim Kardashian’s Skims brand, Ten Thousand, Lalo and Proven.
