Revelry Brands invests funds, experience

BOULDER — For Revelry Brands investing in a new company isn’t about an injection of capital meant to fatten a portfolio. It’s about developing companies that nourish consumers with healthy, natural foods or products.

That leads to the driving question for Revelry Brands founder, Brendan Synnott.

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“How do you provide better products for people to consume?” Synnott asked. “It’s something I genuinely believe in.”

The 31-year-old developed a taste for the natural foods market when he co-founded Bear Naked with a friend from high school in 2002. The snack company — offering natural, healthy granola and snacks — sold to Kellogg Co. in 2007.

“We grew Bear Naked from nothing to 50 million bucks in just over five years,” Synnott said, citing Kellogg’s interest in a healthy snacking platform as a prime reason for the sale. After taking a little time off, including a stint on the reality television show “Survivor,” Synnott moved to Boulder. He’s using some of the capital and connections from Bear Naked to invest in other companies offering consumers healthy options.

Companies such as Siggi’s, a New York-based business offering Icelandic style skyr — a form of strained, nonfat yogurt high in protein and low in sugar.

“I ran into Brendan at a trade show,” said Siggi Hilmarsson, president and founder of Siggi’s. Hilmarsson started the yogurt company after moving to New York for graduate school and as an antidote to the often heavily sugared foods consumed in the U.S.

“It turns out Brendan had been a consumer for several years,” Hilmarsson said. The encounter led to Revelry Brands investing in Siggi’s over the summer. Supermarket shelves are a good place to find interesting investment opportunities, Synnott said.

“Whenever I shop I look for things that are intriguing to me,” Synnott said. “And the way Siggi was interacting with his consumer was just so spot on,” he said, citing everything from the nutritional value of the yogurt to the packaging and the interesting yogurt flavors, such as orange and ginger or pomegranate and passion fruit, offered by Siggi’s.

Hilmarsson appreciates the perspective he gets from Revelry.

“Brendan has been on my side of the fence, the entrepreneur who is strapped for time, cash and everything else” Hilmarsson said. That experience brings a wealth of knowledge about the natural foods industry to the table along with capital, he said. Reverly’s first investment started in a Colorado grocery store with a frozen burrito.

” ‘Burritos? I love burritos.’ I just kept hearing that over and over again,” Synnott said. It was a message that helped Revelry transform Phil’s Burritos in Evol Burritos.

“That’s what Revelry is really excellent at, is rebranding and watching the growth explode,” Synnott said. Evol Burritos — that’s love spelled backward — relaunched with Revelry’s help in spring 2009. It is now a leading seller among natural, frozen burritos.

When Revelry agrees to invest in a company, it’s not a give and go relationship.

“I get most of my enjoyment from working on great projects with great people,” Synnott said, and an investment from Revelry ensures its involvement in a company’s business plan. That’s what attracted Data Garden president Jamie Sidey to Revelry.

“Revelry is an ideal investor because obviously they bring money to the table, and they really understand the market,” Sidey said. “With them we are going to be able to grow so much faster.”

Data Garden analyzes data for small, natural foods and products companies allowing the little guys to better market and compete with larger companies. It connected with Revelry while doing work for Evol.

For Synnott, it’s not just about the product and the business plan either. It has to be the right mix of people.

“They are all so fun I want to have a dinner party with them,” Synnott said. “And at the same time we are working to get to the same place.”