The investment will be used to accelerate Momofuku Goods’ mission to make home cooking more fun, enjoyable and delicious.
NEW YORK, Sept. 6, 2023 /PRNewswire/ — Momofuku Goods, a line of restaurant-grade pantry essentials founded by David Chang, Marguerite Mariscal, and the team behind Momofuku, today announced a new $11.5 million funding round led by Alliance Consumer Growth (“ACG”), a leading consumer-focused growth equity firm. ACG was joined in this latest round by existing Momofuku Goods investor, Siddhi Capital. This new investment will help the Company to further accelerate the nationwide expansion of its popular products.
“Alliance Consumer Growth has a remarkable track record of supporting consumer brands that have gone on to become iconic, and we’re thrilled that they see similar potential in Momofuku Goods,” said Marguerite Zabar Mariscal, Co-Founder and CEO of Momofuku Goods and CEO of Momofuku. “We’re grateful to have ACG’s expertise, alongside Siddhi, as we continue to navigate the world of consumer packaged goods.”
Founded in 2019 and spun out of Momofuku in 2020, Momofuku Goods aims to redefine the American pantry by giving home cooks access to restaurant-grade flavors that make cooking more fun, enjoyable, and delicious. Its breakout product Chili Crunch was released to a 20,000-person waiting list in April 2020.
Today, Momofuku Goods includes additional iterations of Chili Crunch, best-selling Noodles, liquids such as Soy Sauce and Rice Vinegar, and Seasoned Salts — all inspired by the bold flavors that have become synonymous with the Momofuku brand. Beyond a thriving direct-to-consumer business, the brand can be found in more than 3,500 stores including Target, Whole Foods, Wegmans, and thousands of independent retailers.
“Momofuku Goods is one of the most exciting emerging brands in food. In our view, it’s the most authentic, trusted brand in its category, given David Chang’s role as one of the most accomplished chefs of this generation, and the company’s heritage of cult-favorite restaurants,” said Josh Goldin, Co-Founder of Alliance Consumer Growth. “Grocery consumers everywhere have just begun to discover Momofuku’s incredibly delicious and authentic products, which enable home cooks to make restaurant-quality food in minutes. We’re thrilled to be part of this journey with David, Marguerite, and the amazing Momofuku Goods team.”
About Momofuku Goods
Momofuku Goods seeks to reimagine America’s pantries with restaurant-grade flavors that make cooking more fun, enjoyable, and delicious. Created by David Chang, Marguerite Mariscal, and the team behind Momofuku, all Momofuku Goods products are inspired by the flavors and techniques used in the group’s restaurants. Products include its Chili Crunches, air-dried noodles, sauces and Seasoned Salts, all of which can be found in more than 2,000 doors nationwide, as well as retailers online. To learn more and shop the line, visit shop.momofuku.com.
About Alliance Consumer Growth
Alliance Consumer Growth (“ACG”) is a leading growth equity firm, providing capital and value-added partnership to promising emerging consumer product and retail brands. Since its founding in 2011, ACG has built a track record of identifying and backing some of the most disruptive consumer brands of the past decade, across food, beverage, beauty, personal care, pet products, apparel & accessories. ACG has offices in New York City and Los Angeles. For more information please visit www.acgpartners.com.
SOURCE Momofuku Goods
Originally published at https://www.prnewswire.com/news-releases/momofuku-goods-announces-new-growth-funding-from-alliance-consumer-growth-301919857.html
Images courtesy of https://pixabay.com