STEAMBOAT SPRINGS, Colo. (BRAIN) — Factory LLC, a Pennsylvania-based operating company, has made an equity investment in the sports nutritional brand Honey Stinger.
Factory LLC has $250 million of capital to invest in food, beverage and pet health companies. Factory said its staff includes experts in sales, marketing, innovation and food science, operations, and finance. The company's 30-person team works out of a 40,000 square foot "innovation and scale-up facility" in Bethlehem, Pennsylvania. Among its previous investments was taking a $5 million stake in Mikey's Muffins in 2017. Factory LLC was founded by Rich Thompson, the former CEO of Freshpets and Meow Mix, and the founder and former CEO of America Italian Pasta Company.
"We are really excited to partner with Honey Stinger, a company that has established itself as one of the premier sports nutrition brands on the market," said Thompson. "Our partnership will allow Honey Stinger to broaden its reach through amplified marketing and distribution programs. Factory will also focus on innovation to expand the company's offering of great new performance-based products."
Bill Gamber, Honey Stinger co-founder and president, said, "The Honey Stinger brand was born from a decades-long family tradition, so our passion for honey-based nutrition is deeply rooted.
"We are very proud of the growth we have achieved and the career opportunities we've been able to provide to our team here in Steamboat. As we look to continue building on that growth, it is important for us to choose partners who understand the value of our heritage and share our passion for creating exceptional products. Factory brings the ideal combination of experience, expertise, vision and resources to help drive Honey Stinger forward."
Gamber was also the co-founder of the outdoor company Big Agnes, also based in Steamboat Springs.
