CPE Media News (6/4/2019) – New Skew has closed a first external round of financing with a group of investors that is comprised exclusively of family offices and investment dealers who offer significant strategic value to the future of food, retail, and hospitality across the USA and Canada.
New funds will allow the company to further prototype, launch, and scale next-generation food brands.
Founded in 2017 by Alex Yurek, New Skew is a Toronto-based food innovation company which owns and operates a portfolio of craft food brands.
photo credit: New Skew
News Release
New Skew Builds Model for Next-Gen Food Company, Closes Initial Financing Round
Idea Factory For Contemporary Food Brands Aims to Close The Gap Between Food Culture and Food Companies
TORONTO, June 4, 2019 /CNW/ – New Skew is proud to welcome its first round of external investors, allowing the company to further prototype, launch, and scale next-generation food brands. The idea factory for contemporary food brands was developed by a team that has witnessed first hand how big food companies struggle with innovation in a world of mainstreaming “foodie-ism.”
This initial group of investors is comprised exclusively of family offices and investment dealers who offer significant strategic value to the future of food, retail, and hospitality across the USA and Canada.
Currently, New Skew’s portfolio includes 4 food brands:
-Detour Coffee Roasters New Skew’s largest consumer brand to date, is a specialty roastery that sources coffees globally and distributes them across the US and Canada.
-Dear Grain is a modern bakery brand that delivers heritage-grain sourdough bread to homes across Ontario and Quebec.
-Royal Canadian Mead, upon launching in June 2019 across Ontario, will introduce the honey-based alcoholic beverage to a new generation, with an approachable brand and a product adapted to today’s tastes—drier and lighter.
-Brainbow is the newest brand in the New Skew portfolio and aims to bring all-natural adaptogenic herbs mainstream. Brainbow’s plant-based formula improves productivity, reduces stress, and staves off fatigue.
“My team and I are excited to introduce our company and brands, as well as our initial investment round,” said Alex Yurek, CEO, and Founder of New Skew. “This capital allows us to expand our presence across North America, scale our existing brands and develop new brands as food culture continues to evolve.”
“We believe great food brands can elicit the same feeling like a beautiful meal,” says Sean Hazell, EVP Brand. “Today’s packaged food options are stale, unsatisfying, and unsustainable. People are hungry for something different.”
New Skew’s multi-disciplinary team employs a rapid innovation process that allows it to create, test and launch new food offerings more quickly than legacy Consumer Packaged Goods companies at a far lower cost of capital.
About New Skew
New Skew is a Toronto-based food innovation company which owns and operates a portfolio of craft food brands. Founded in 2017 by Alex Yurek, the New Skew team comprises a team of former advisors to consumer food brands who recognize the dearth of innovation in the food and beverage category. With speed and culinary creativity at its core, New Skew aims to build a new model for a modern food company that keeps pace with food culture.
SOURCE New Skew
For further information: Media Contact: Richard Wong, Director of Communications, 416-388-5736, richard@newskew.co