This is the third time the Los Angeles-based private equity firm has invested in the jerky company, according to Eugene Kang, Country Archer’s CEO and co-founder.
New packaging and slicing technologies
Kang noted the company’s recent move to pursue a new round of funding followed record growth between Q1 and Q3 this year.
Already the fastest-growing jerky brand in the US natural channel, Country Archer recently gained 25,000 distribution points across the country, Kang said.
He added the firm had also unveiled a new line of meat bars in June, which received immediate positive response and went into national retailers like Target.
Kang told BakeryandSnacks that Country Archer will use the money to purchase new packaging and slicing technologies.
“We’re excited about our partners at Monogram who’ve believed in our mission to change the way people think about meat snacks and are excited about how this new round of funding will enable us to scale up quickly and increase production capacity-wise,” he said.
Keeping the craft alive
Country Archer, which began making jerky 30 years ago, manufactures its products at its 30,000-square-foot plant in San Bernardino.
Kang said: “What we do at Country Archer is so much more than selling and marketing beef jerky, we are helping to keep the craft of artisan jerky alive by slow cooking our meats in small batches every single day.
“Having our own dedicated facility and in-house team are critical components to our success as it enables us to capture better gross margins and increase efficiency while of course controlling the quality of every ingredient and the final product.”
He added Country Archer’s meat snacks are made with USDA-inspected, 100% grass-fed beef and antibiotic-free turkey, and are free of nitrites, MSG, gluten, soy and added hormones.
Country Archer anticipates a 70% annual revenue growth rate in 2018.