An investor group led by Swander Pace Capital (SPC), a private equity firm specialising in consumer products’ companies, is to acquire Mighty Spark Food Company (Mighty Spark), an all-natural protein brand ‘on a mission to impact food insecurity’.
In conjunction with the strategic partnership announcement, Mighty Spark has also the announced the appointment of its new Chief Executive Officer, Sean Reid, who brings over 30 years of industry experience and most recently served as Executive Vice President of Sales at Jack Link’s and Chief Consumer Officer at Hillshire Brands.
“I am excited to welcome my new partners and a new CEO to our Company to leverage their experiences with other high-growth, innovative food brands and those businesses that positively impact their communities,” explains Mighty Spark’s Founder Nick Beste. “I’m thrilled our partners have embraced our mission, as well as our commitment to product quality and innovation. Going forward, I will focus my efforts exclusively on our meal donations and community impact, and I look forward to driving meaningful change as we help people in need.”
“Mighty Spark has quickly developed a loyal and passionate following due to its ability to consistently satisfy consumers seeking healthier protein alternatives, great-tasting products, environmentally-friendly packaging, and a real commitment to giving back,” says Rob DesMarais, Chairman of Mighty Spark and a Managing Director at Swander Pace Capital. “Mighty Spark has incredible growth potential and the talent and capabilities to realise it. We are thrilled to form this new partnership and welcome Sean Reid to lead the team.”
“I am excited to lead a talented and ambitious organisation that is winning with its consumers and retailer partners,” explains Sean Reid, Chief Executive Officer at Mighty Spark. “Going forward, we will work hard to continue to innovate with better-for-you proteins as we respond to emerging consumer trends while staying true to our give-back commitment.”
In connection with the partnership, Mighty Spark proudly announces the addition of three proven leaders to its Board of Directors, Kerry Collins, Eric Eddings, and Diane Kull. Collins most recently served in various senior roles for Applegate, including Chief Executive Officer. Eddings currently serves as the Chief Executive Officer of Oregon Ice Cream, which owns Alden’s (No1 market share organic ice cream brand in the US) and Chief Executive Officer of Branch Brook Holdings. He was previously the Chief Executive Officer of Sahale Snacks. Kull currently serves as the Vice President of Technical Services at Bragg Live Food Products (No1 market share apple cider vinegar brand in the US) and previously held senior positions at Applegate, including Vice President of Quality Assurance, R&D, and Animal Welfare.
“We are very enthusiastic to join forces with an incredibly talented team at Mighty Spark and to work in a collaborative and respectful way as we chase our ambitious goals,” explains Eddings, Vice Chairman of Mighty Spark. “We are also here to support Mighty Spark’s mission to address food insecurity and continue to innovate for our consumers and retail partners.”
