Bachan's Japanese Barbecue Sauce Announces Growth Investment
Top-Selling Barbecue Sauce Will Expand Its Team, Product Line, and Brand Presence with Investment from Prelude Growth Partners, Celebrities, and Industry Veterans
Sep 29, 2021, 08:44 ET
SEBASTOPOL, Calif., Sept. 29, 2021 /PRNewswire/ -- Bachan's, creators of the first-to-market Japanese Barbecue Sauce, raised capital to continue its rapid growth and category leading velocity online and in-store. The minority investment will go toward expanding the brand's team, distribution, and thoughtful product innovation. Since 2019, Bachan's has entered more than 2,500 retail locations and with the capital raised, will continue to meet the growing demand beginning with an expanded presence at Whole Foods Market stores across the U.S this November.
The investment was led by Prelude Growth Partners, a private equity firm focused on high potential, fast-growing consumer brands, with participation from celebrity investors including Ryan Tedder, Aaron Paul, Benny Blanco, Whitney Port, Max Thieriot, Chase Utley, Abe Burns, as well as former co-CEO of Whole Foods Market, Walter Robb, and tech industry veteran and Latitud co-founder, Brian Requarth.
"The commitment I made to developing our sauce and our cold-filled manufacturing process in a way that honored my family, and also made it completely unique in the marketplace, is paying off. The growth we're experiencing in all channels is exhilarating and every day is a new challenge, which I love. People connect to our brand and our story, and they love our products. Our team really couldn't ask for anything better than that." says Justin Gill, Bachan's founder and CEO. "At Bachan's, our mission is to bring family together through memorable experiences with food, family, and culture. As we continue to grow, we're so grateful to have investors on board who are as passionate about our mission as we are."
In the two years since its founding, Gill and his team have quickly made a name for the brand with their family of crave-worthy sauces (available in Original, Gluten-Free, Hot & Spicy) and experienced rapid growth, finding distribution in more than 2,500 retailers including Whole Foods Market, Costco, Bristol Farms, Gelson's Market, The Fresh Market, Harmons, Oliver's Market, Giant Food, Central Market, and Fresh Thyme, as well as noteworthy boutique markets such as Sesame LA and Reap Mini Market. Bachan's is also nationwide in retail outlets outside of conventional and natural grocery stores, such as Cost Plus World Market and FYE, has a thriving direct-to-consumer business, and is the #1 best-selling BBQ sauce on Amazon.
"We are thrilled to invest in Bachan's Japanese Barbecue Sauce, which fits squarely into Prelude Growth's investment strategy of partnering with passionate, purpose-driven founders of high-growth consumer brands," said Neda Daneshzadeh, Co-Founder of Prelude Growth Partners. "Bachan's family of sauces meets the new modern consumer's incredible demand for bold and authentic flavor profiles. The integrity of Bachan's small batch, multi-generational family recipe has created a loyal following, and we are proud to partner with Justin and his team to support the brand's commitment to growth through innovation, quality and clean ingredients."
"Justin has done a remarkable job bringing this unbelievably delicious, multi-generational family recipe to the marketplace," says Walter Robb, former co-CEO of Whole Foods and CPG food and beverage investor. "Rarely have I seen a SKU, much less a condiment, rocket to the top of the category like this in such a short period of time. This is a real deal growth story."
Bachan's is dedicated to creating small batch, cold-filled sauces made from clean, authentic, non-GMO, and vegan ingredients, inspired by Justin's family recipe. Bachan's is sold direct-to-consumer on https://bachans.com/, on Amazon and in retailers nationwide.
About Bachan's Japanese Barbecue Sauce
Bachan's was founded by Japanese American Justin Gill in 2013 and after six years of perfecting the multi-generational family recipe, the Original Japanese Sauce officially launched in 2019. With a mission to Bring Family Together® through food, culture and family, Bachan's believes in a minimalistic and transparent approach to creating clean, authentic sauces inspired by traditional Japanese flavors. Bachan's family of sauces are cold-filled (not pasteurized) and made with the highest quality ingredients, without the use of preservatives or flavorings, because Our Ingredients Matter®.
About Prelude Growth Partners
Prelude Growth Partners is a growth equity firm that supports brands made for the new modern consumer. By partnering with founders and CEOs, Prelude Growth provides deep category experience, value-added operational support, and a broad network to power the high potential, fast-growing consumer brands of tomorrow. Prelude Growth seeks to make investments of $10 million to $40 million in each company, across branded consumer categories including personal care, beauty, food & beverage, baby, pet, health & wellness and other consumer product, service and technology companies. Investments include: Banza, Sol de Janeiro, Summer Fridays, So Good So You, Westman Atelier, 8Greens, dpHUE and Fly By Jing. For additional information on Prelude Growth, please visit www.preludegrowth.com.
Media Contact for Bachan's:
Media Contact for Prelude Growth
Joele Frank, Wilkinson Brimmer Katcher
SOURCE Bachan's Japanese Barbecue Sauce
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