Monogram Capital Partners has made a minority investment in Country Archer Jerky, a maker of premium beef jerky. Country Archer represents the firm’s fourth platform investment in the past two years.
Country Archer manufactures artisanal jerky products using grass-fed proteins and organic ingredients. The company focuses on developing original flavors such as Sriracha, Sweet Jalapeno, and Hickory Smoke. Country Archer products are sold through convenience stores, gas stations and other retail outlets as well as online. The company, founded in 1977, is owned by Eugene and Susan Kang and is headquartered in San Bernardino, CA (www.countryarcher.com).
According to Monogram, the investment proceeds will be used to expand distribution, develop new products and build consumer awareness of the brand. Country Archer recently launched a new grass-fed line of products and soon will launch a meat-based protein bar.
Monogram Capital Partners (ww.monogramcapital.com) makes minority growth and control investments of $5 million to $30 million in companies with revenues of $5 million to $50 million. Sectors of interest include apparel and accessories; beauty and personal care; pet products; consumer healthcare; food and beverage; and restaurants. Monogram was founded in 2014 by partners Jared Stein and Oliver Nordlinger and is headquartered in Los Angeles. Greg Willsey is also a partner at firm and heads the operating function. Before joining Monogram, he was the COO at beverage company POM Wonderful. Mr. Stein and Mr. Willsey have joined the board of directors of Country Archer.
Prior to investing in Country Archer, Monogram researched the jerky category extensively and determined that Country Archer’s product was differentiated. “In addition to being one of the few self-manufactured brands on the market, and achieving the quality and supply chain controls that comes with that, Country Archer highlights an ingredient driven process that emphasizes grass fed beef and organic seasonings,” said Mr. Stein.
According to Monogram, over the past few years, Country Archer has been growing rapidly, roughly doubling its sales annually and expanding its distribution nationwide. “We view Country Archer’s category leading growth metrics in both the natural and conventional channels as a sign of the customer identifying and enjoying a high quality product that has widespread, crossover appeal,” said Mr. Nordlinger.
“In Monogram we saw a value-added partner who could help us execute on our vision and take Country Archer to the next level. Susan and I are extremely proud of the company we have built and believe strongly that this partnership will help us reach our full potential,” said Mr. Kang.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 3-16-16
