The Whole Coffee Company, a Miami, FL-based developer of proprietary coffee technologies, closed an $11M Series A funding.
The company intends to use the funds to to begin scaling its recently announced and expanded Tim Hortons, Dunkin’ and internally branded nudge.™ Edible Coffee Products.
THE PRESS RELEASE
The Whole Coffee Company Announces $11 Million in Series A Funding
October 02, 2019 11:51 AM Eastern Daylight Time
MIAMI–(BUSINESS WIRE)–The Whole Coffee Company, the global leader in developing proprietary coffee technologies adding value and driving demand for a limitless range of consumer and business applications, announces close of its $11M Series A capital raise. This capital, along with its recent sales and executive talent recruits, will enable the company to begin scaling its recently announced and expanded Tim Hortons, Dunkin’ and internally branded nudge.™ Edible Coffee Products.
“The continued expansion of The Whole Coffee Company’s proprietary coffee technology processes throughout the U.S. retail market is a key objective in ProspEquity Partners’ and The Whole Coffee Company’s global strategy to create a new coffee experience that will drive significant consumer demand and solid returns for our business partners”
The company also announced today that a large retailer in Canada has authorized shelving the Tim Hortons “Double Double” bar, along with two additional coffee blends, made by The Whole Coffee Company. Moreover, this retailer has accelerated its launch plans to put this groundbreaking product in front of consumers prior to January, breaking the retailer’s normal launch protocol. Additionally, limited availability of bars will be offered to loyal Tim Hortons consumers in select restaurants during the same time, much to the delight of Canadian consumers.
Making these rapid advancements possible is a new, small and talented entrepreneurial commercial team covering North American channels and customers. The company expects to issue major additional commercial announcements in the coming weeks.
“The close of our Series A funding by attracting prominent brand-based growth capital investors, who have significant influence in the coffee industry, was a critical and confirmatory step in The Whole Coffee Company’s evolution as a company, as a brand and as an emerging industry leader,” commented Christopher D. Ramonetti, Chairman of the Board of The Whole Coffee Company and Founder and Managing Partner and CEO of private equity firm ProspEquity Partners, the majority owner of The Whole Coffee Company.
“This company and team will continue to surprise the retail and consumer packaged goods landscape with its accelerated product and brand launches over the upcoming year. The company continues to attract some of the world’s greatest coffee and consumer talent, and now, with the proper resources, will set its mark on the global coffee industry.”
ABOUT WHOLE COFFEE COMPANY AND PROSPEQUITY PARTNERS
ProspEquity Partners (PEP), the Tampa, Fla.-based private equity firm building shareowner value through conscious capitalism and a dedication to people and local communities, owns a majority stake in The Whole Coffee Company. The partnership between PEP’s world-class operational executive expertise and ecosystem of strategic partners and advisors and The Whole Coffee Company’s industry-leading coffee product development team is launching a coffee revolution that is rapidly scaling The Whole Coffee Company’s worldwide market penetration. “The continued expansion of The Whole Coffee Company’s proprietary coffee technology processes throughout the U.S. retail market is a key objective in ProspEquity Partners’ and The Whole Coffee Company’s global strategy to create a new coffee experience that will drive significant consumer demand and solid returns for our business partners,” commented Christopher D. Ramonetti, Managing Partner and CEO of ProspEquity Partners, and The Whole Coffee Company board chair.