KIND Snacks founder invests in Greek yogurt brand Ellenos

KIND Snacks founder and executive chairman Daniel Lubetzky through his family office Equilibra Partners Management has invested $18m in US-based Greek yoghurt brand Ellenos.

This investment will help the company as part of its national expansion plan. Lubetzky will also serve as a mentor to Ellenos’ management team.

Since 2013, the company has used a signature blend of yoghurt cultures to create its products. Made from locally sourced fresh milk, in-house fresh fruit purees and compotes top the yoghurts. The company currently has distribution in nine states in the US.

Ellenos co-founder Con Apostolopoulos said: “We make amazing yoghurt, I’m confident in that, but the American packaged food industry is totally different from what we’re used to in both Greece and Australia.”

“So while we have a ton of momentum right now, to have someone like Daniel as a partner, a fellow founder who has achieved aspirational success as a disruptor in the food space, it gives us this incredible opportunity to leverage his knowledge to help us take Ellenos to the masses and scale this community that we’ve built in the Northwest across the entire country.”

The company said that Lubetzky, who has built a billion-dollar KIND Snacks brand, comes with experience in scaling a brand. He will help in expanding its presence across the country.

Commenting on the investment, Lubetzky said: “Beyond falling in love with Ellenos’ delicious Greek yoghurt, what drew me to the brand was its integrity in every respect.”

“Not only is Ellenos obsessive about the craft of yoghurt-making and sourcing the highest quality ingredients, but its leadership and team exemplify my belief that how we build a brand is as important as what we are building. The sense of community that Ellenos has created in the Pacific Northwest is palpable and I am honoured to support the brand’s founding team throughout its next chapter.”

Equilibra Partners Management has become the second private equity partner for Ellenos.

Los Angeles-based private equity firm Monogram Capital Partners invested in the company in 2018.