Key Takeaways
- • The Newcastle Network, a consumer-focused private equity firm based in Wellesley, Mass., has invested $25 million in Dan-O's Seasoning, marking its first food investment.
- • Louisville, Ky.-based Dan-O's makes seasoning blends that home cooks use in place of traditional herbs and spices, sold online and through more than 22,000 retailers.
- • Founder Dan Oliver, who started the company in 2015 by selling an early version of his Original blend at a local farmers market, and CEO Phillip Crosby continue to lead the company.
- • The capital will fund new flavors, new product formats, and expanded retail and online distribution.
- • Newcastle's existing portfolio includes footwear maker Kizik, collectibles company Super7, and Pet Life Unlimited; managing partner Chris Casgar leads the firm.
Summary
The Newcastle Network, a consumer-focused private equity firm headquartered in Wellesley, Massachusetts, has invested $25 million in Dan-O's Seasoning, according to the announcement. The transaction is Newcastle's first investment in the food sector, extending the firm's consumer portfolio beyond its existing holdings.
Dan-O's is based in Louisville, Kentucky, and manufactures seasoning blends designed to replace traditional herbs and spices for home cooks. The products are sold online and through more than 22,000 retailers. The company was founded in 2015 by Dan Oliver, who first sold an early version of his Original blend at a local farmers market.
Oliver and chief executive Phillip Crosby will continue to lead the company following the investment. The proceeds are earmarked for developing new flavors and product formats, as well as broadening retail and online distribution.
Newcastle's portfolio also includes footwear maker Kizik, collectibles company Super7, and Pet Life Unlimited. Chris Casgar serves as the firm's managing partner.
Dan-O's is based in Louisville, Kentucky, and manufactures seasoning blends designed to replace traditional herbs and spices for home cooks. The products are sold online and through more than 22,000 retailers. The company was founded in 2015 by Dan Oliver, who first sold an early version of his Original blend at a local farmers market.
Oliver and chief executive Phillip Crosby will continue to lead the company following the investment. The proceeds are earmarked for developing new flavors and product formats, as well as broadening retail and online distribution.
Newcastle's portfolio also includes footwear maker Kizik, collectibles company Super7, and Pet Life Unlimited. Chris Casgar serves as the firm's managing partner.
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