BOULDER — Free2b Foods, a Boulder-based maker of snacks using natural ingredients, has received an investment from a New York-based advisory and investment firm.
The amount of the investment in the privately held company was not disclosed.
VG Growth Partners’ team of advisers, along with the cash infusion, will help free2b Foods’ team of 25 employees grow its distribution, build its brand and develop new products.
Free2b Foods makes snacks at 6880 Winchester Circle in Boulder that are free from the top 12 food allergens, artificial colors, flavors, sweeteners, preservatives and hydrogenated oils.
The brand is most widely recognized for its Sun Cups, introduced in 2008.
In 2016, the company introduced a line of chocolate bars and are currently rolling out Snack Breaks, a chocolate snack that is plant-based.
Over the past year, the company reformulated recipes to eliminate dairy from its product line.
Mike Murray, free2b Foods’ chief executive, said 40 million Americans, or 13 percent of the U.S. population, are affected by food allergies.
“This health challenge is only becoming more common as food allergies and sensitivities continue to rise,” he said in a prepared statement. “We are enthusiastic about growing a company and team that serves this important community and are thrilled to be working with an investment partner who shares our vision and passion to provide ‘free from’ foods.”
VG Growth Partners, founded in 2016, provides equity investments ranging from $500,000 to $3 million.