Eco-Products, a supplier of food service items made from renewable resources, closed a $2 million Series A investment on Aug. 28 with Greenmont Capital Partners, a Boulder, Colorado-based private equity group.
The capital will be used to meet rising demand for biodegradable and compostable products. Eco-Products was selected as the first investment for Greenmont’s second fund, Greenmont Capital Partners II.
With expansion plans on the horizon, Eco-Products is poised to take advantage of Greenmont’s experience in assisting natural products companies through periods of rapid growth. Additionally, Ellie’s Home Store, Eco-Products’ first green department store, will open in Boulder this November to offer consumers a one-stop shop for all environmentally friendly household wares.
Greenmont Capital’s seasoned team, consisting of many founders of the natural products industry, has more than 150 years combined natural products experience.
"As consumers continue to seek and support value-based companies and eco-friendly items, Eco-Products is well positioned to increase its reach," said Todd Woloson of Greenmont Capital Partners. "We recognize their potential to influence responsible purchasing decisions–away from plastics and towards renewable resources. They are leading the movement," Woloson noted.
Eco-Products provides compostable food service supplies, made from plant-based renewable resources, to myriad organizations. Notable clients include Google, Stanford University, Sysco, SeaWorld, Toyota, US Foodservice, Sodexo, Hilton Hotels, Ritz-Carlton, ESPN X-Games, Limited Brands, Bonnaroo Music Festival and thousands of cafes, restaurants and other businesses nationwide.
In July, the City Council of Seattle voted to ban styrofoam and plastic in food -service businesses by the year 2010.
About Eco-Products Inc.
Eco-Products is the nation’s largest manufacturer of biodegradable and compostable food service products. Products are made from renewable resources such as corn and sugarcane instead of petroleum, thus offsetting the United States’ need for foreign oil. Eco-Products also provides a full line of healthy, eco-conscious home cleaning products.
About Greenmont Capital
Greenmont Capital Partners is a venture capital fund founded by natural product industry insiders. The company focuses on early-stage companies in the $500 billion LOHAS (Lifestyles of Health and Sustainability) market. Greenmont’s management and investment committee personnel have served on the boards of numerous companies, including Crocs, Whole Foods Markets, Celestial Seasonings, White Wave, Gaiam, EcoTimber, Aurora Organic Dairy, Nude Skincare, Fresh & Wild, Seventh Generation, Wild Oats Marketplace, Blue Sun Biodiesel, Ganeden Biotech, EcoSmart Technologies, Horizon Organic Dairy, Traditional Medicinals, RSF Social Finance, Alfalfa’s Markets and IZZE Beverage Co. Visit http://www.greenmontcapital.com for more information.
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