Private Equity firm, Strand Equity Partners closed a minority investment in Brooklyn-based vegan ice-cream brand, Van Leeuwen Ice Cream. Terms of the deal were not disclosed.
Van Leeuwen produces its own dairy-based and vegan ice cream products in its Greenpoint, Brooklyn facility and operates 13 shops and 6 trucks in New York and Los Angeles, according to the announcement. It sells its products in more than 700 retailers nationwide, including Whole Foods Market and Erewhon.
“Van Leeuwen is an iconic Brooklyn brand with a cult-like following of loyal consumers who enjoy its innovative-yet-accessible ice cream,” said Strand Equity Co-Founder Seth Rodsky in a statement. “We are … excited to help the company execute on its mission of serving the highest-quality ice cream to customers everywhere.”
Strand Equity specializes in consumer-branded products and has invested in beverage brands Vita Coco, WTRMLN WTR and Bai Brands. In May 2017, it took an unspecified minority stakes in Hippeas maker Green Park Snacks based in Santa Monica. The firm seeks to invest in companies with revenues between $2 million and $10 million according to its website.
Manufacturing, retail and trade reporter Shwanika Narayan can be reached at firstname.lastname@example.org or 323-556-8351. Follow her on Twitter @shwanika.