Colorado vegan cheese brand The Honest Stand recently closed a $1 million seed investment round led by Pennsylvania-based firm The Giorgi Companies (TGC). In 2015, founders Alexandra Crone and Jeremy Day launched The Honest Stand—which offers vegetable-based vegan cheese dips in flavors such as Spicy Nacho, Garlic Parm, and Smoked Cheddar—at local farmers’ markets in the Denver area. The brand currently operates out of an 8,000-square-foot facility in Louisville, CO and has experienced growth rates of 180 percent from 2016 to 2017 and 275 percent in the following fiscal year. “As a 90-year-old company in the agricultural and retail space, we are very clear on the consumer trends that are driving and transforming grocery,” Brian Loiseau, leader of sales and innovation for TGC foods division, said. “Building a new food brand is very hard work. We have no doubt that this team has the discipline, drive, and commitment to quality [and] to build a trusted national brand among rising plant-based consumers.” The Honest Stand’s vegan dips are available at approximately 280 stores, and the company plans to use its new funding to expand its distribution to 1,500 retailers by the end of the year.
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