FOOD AND BEVERAGE NEWS
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Irvine-based Dr. Sears raises $5.6 million in funding
The privately held firm plans to use the financing to grow and support branding initiatives.
By Brandon RussellPublished: February 24, 2011 11:31 AM
Dr. Sears Family Essentials, an Irvine-based functional food and beverage company, has secured $5.6 million in funding from Intuitive Venture Partners LLC.
The privately held firm plans to use its new capital to fuel company growth and support branding initiatives. Dr. Sears' ultimate goal is to educate and provide families with products that will help prevent childhood obesity and Nutritional Deficit Disorder.
The funding comes at a time when the company is experiencing increased traction on both online and retail channels, said Tom Hicks, CEO of Dr. Sears.
"This is a tremendous validation of our brand," he said. "Strengthened by a top-flight executive team with successful track records in building strong and profitable companies in the health and wellness space, we're poised for substantial growth in the year ahead."
Dr. Sears offers a line of doctor-formulated, "kid-approved" all-natural snacks, beverages and supplements. Its products are available nationwide at The Vitamin Shoppe, Whole Foods and other retailers, as well as online.
"We were immediately drawn by the longevity of the Dr. Sears brand and its strong consumer awareness among head of household moms, coupled with the swift retail acceptance of its products over a very short time period," said Scott Cardone, partner and co-founder of Intuitive Venture Partners. "The dynamic combination of Dr. Sears' medical expertise, matched with impressive experience of the leadership team, is the ultimate formula for success."
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The privately held firm plans to use its new capital to fuel company growth and support branding initiatives. Dr. Sears' ultimate goal is to educate and provide families with products that will help prevent childhood obesity and Nutritional Deficit Disorder. The funding comes at a time when the company is experiencing increased traction on both online and retail channels, said Tom Hicks, CEO of Dr. Sears. "This is a tremendous validation of our brand," he said. "Strengthened by a top-flight executive team with successful track records in building strong and profitable companies in the health and wellness space, we're poised for substantial growth in the year ahead." Dr. Sears offers a line of doctor-formulated, "kid-approved" all-natural snacks, beverages and supplements. Its products are available nationwide at The Vitamin Shoppe, Whole Foods and other retailers, as well as online. "We were immediately drawn by the longevity of the Dr. Sears brand and its strong consumer awareness among head of household moms, coupled with the swift retail acceptance of its products over a very short time period," said Scott Cardone, partner and co-founder of Intuitive Venture Partners. "The dynamic combination of Dr. Sears' medical expertise, matched with impressive experience of the leadership team, is the ultimate formula for success." Related headlines PsomasFMG lands $20 million solar deal with O.C. Tech Coast Angels: Investments jump in 2010 American Sporting Goods Corp. sells for $145 million |
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