Vegan cheese maker Miyoko's secures minority investment from JMK
Miyoko's Kitchen, a non-dairy, vegan cheese and butter alternatives manufacturer, has received an undisclosed minority investment from JMK Consumer Growth Partners.
The New York based consumer-focused growth equity fund’s investment will help the California based company to accelerate growth in product range and distribution capabilities.
Miyoko's Kitchen was founded in 2014 by vegan chef Miyoko Schinner who said that JMK and Miyoko's Kitchen were a perfect match and that she was impressed with the equity firm’s understanding of food trends and appreciation for food innovation.
Schinner added: "While JMK's track record is impressive, it's their energy, hard work and appreciation for handcrafted foods that made us want to partner.
"We weren't just looking for money, we wanted a shared vision for the future and a common goal. They understand and appreciate my big picture vision for the Company and long-term mission."
Proceeds from JMK’s funding will be utilized to commission a new manufacturing plant in Petaluma in California. The new facility is expected to have 30 times the capacity of the existing production besides helping the company’s growth in the future.
Miyoko Kitchen's products are presently distributed to Natural Grocers, Whole Foods, Trader Joe's, Wegmans, Raley's among other retailers.
JMK Consumer Growth Partners co-founder John Kenney said: "Miyoko and the Miyoko's Kitchen team have worked very hard to build a formidable brand.
"We are absolutely thrilled to partner with Miyoko and her very talented team to help fuel the next stage of the growth story.”
Apart from JMK, other existing investors of Miyoko's Kitchen had participated in its Series B round which includes Obvious Ventures, Stray Dog Capital and CircleUp.
Image: A dish made from vegan cheese. Photo: courtesy of Martin_mmmm/Wikipedia.