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Mighty Leaf Gets Equity Investment Funding |
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Monday, 10 December 2007 |
VMG Partners, a private equity firm that specializes in acquiring and building branded consumer products companies in the lower middle market, announced that it has made an equity investment in Mighty Leaf Tea Co., a producer of ultra-premium artisan teas.
Based in San Rafael, Calif., Mighty Leaf manufactures a broad range of artisan specialty tea blends from the finest ingredients from around the world and distributes its brand primarily through specialty retailers, high-end restaurants and premier hotels and resorts across North America.
Currently, Might Leaf offers a tea portfolio of 34 artisan tea blends in Tea Pouches, 180 loose tea blends and three iced tea blends. The company also sells a variety of teaware.
Mike Mauze, a managing director of VMG Partners who has been actively involved throughout his career in building specialty beverage brands, says, "Mighty Leaf has the attributes of a classic investment for VMG because it is a superb company operating in a fast growing niche sector. The strong management team, led by co-founders Gary Shinner and Jill Portman, is passionate about tea and we are confident that we can leverage Mighty Leaf’s well-developed brand and premium product quality to drive consistent and meaningful growth by broadening penetration within existing distribution channels as well as leveraging its comprehensive product portfolio to grow the company at an accelerated rate."
Since its founding in 2000, Mighty Leaf has catered to connoisseurs of luxury teas, as well as consumers who connect with the brand on an emotional level. It maintains an unmatched luxury reputation in the industry as evidenced by its premium customer relationships. Mighty Leaf has partnered with the luxury retail, foodservice, high-end restaurants and hospitality brands in the world, including the Ritz Carlton and Four Seasons hotels, Crystal Cruises, Neiman Marcus, Nordstrom and Whole Foods. The company has been featured as one of Inc. magazine’s 500 fastest growing private companies for two consecutive years.
"I am thrilled to be joining forces with VMG Partners as we leverage the value of our mutual skills, resources and experience," says Shinner, CEO of Mighty Leaf Tea. "Our partnership will be most supportive towards further building of Mighty Leaf’s brand equity, while growing our sales to higher levels and continuing to strengthen our leading position in the premium specialty tea market."
"The increasing demand for premium products and the growing awareness of tea's health benefits are just two of a number of long-term trends that will help in the ongoing growth of Mighty Leaf," says Mark Leets, a principal of VMG Partners. "Mighty Leaf is well positioned to leverage its reputation for innovation and quality and capitalize on the ever-increasing demand for simple luxuries."
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