WELLESLEY, MASS. — Dan-O’s Seasoning, a maker of seasoning blends and dry-mix dips, has received a $25 million investment from consumer-focused private equity firm The Newcastle Network.
The investment will be used to expand the availability the Dan-O’s portfolio across retail and online channels. The funds additionally will go towards exploring flavor and format innovations, according to the company.
Dan-O’s was founded by Dan Oliver in 2015 in Louisville, Ky., as an alternative for home cooks interested in sugar-free, low-sodium seasoning products. The company’s portfolio initially was comprised of seasoning blends for chicken, and Dan-O’s product lines have since grown to include a variety of powdered seasonings, cheese-based seasoning blends, barbecue mixes, taco mixes, chili mixes and dry dip mixes.
“The brands we’re most excited about don’t just sell products, they change behavior,” said Chris Casgar, managing partner, The Newcastle Network. “Dan has built far more than a seasoning company. He’s created a platform that inspires millions of home cooks to experiment, create and enjoy cooking more. That’s rare, it’s incredibly difficult to replicate, and it’s exactly the kind of business we’re looking to back as we build our food portfolio. The Dan-O’s investment is just the beginning.”
The deal marks The Newcastle Network’s first investment in the food and beverage sphere. Other companies the firm has invested in include Kizik, a footwear brand; Pet Life Unlimited, a pet care product manufacturer; and Super7, a toy and collectibles maker.
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