William Blair acted as lead financial advisor to We Are The Chompians, LLC (Chomps) in connection with its minority investment from Stride Consumer Partners LLC (Stride). Chomps is a leading provider of premium-quality, sustainably sourced meat snacks in the United States. The transaction closed on December 31, 2021.
Transaction Highlights
- Deep expertise and relationships: Chomps was attracted to William Blair’s extensive industry knowledge, relationships, and experience advising high growth companies in branded better-for-you snacking, and businesses owned and led by their founders.
- Trusted guidance and execution excellence: The transaction team worked closely with Chomps throughout each step of the process, including advising on optimal transaction strategy and timing, developing marketing materials, providing critical insights around buyer and investor behaviors and compatibilities, counseling on process tactics, and negotiating key contract terms. This enabled Chomps to explore interest from the most likely strategic buyers and growth equity investors in parallel and resulted in an exceptional outcome for the shareholders.
- Exceptional partnership: The minority investment by Stride will allow Chomps to further deliver its mission to inspire a healthier way of snacking and benefit the environment.
About the Companies
Chomps is a founder-owned and operated, high-growth, better-for-you meat snack brand with a commitment to the environment, animal welfare, and best-for-you nutrition. Chomps meat sticks are all-natural and high-protein, featuring sustainably sourced protein and clean-label ingredients. As a digitally native brand, Chomps has leveraged its direct-to-consumer and online expertise to build an active, engaged, and loyal community of advocates, as well as win distribution in leading brick-and-mortar retailers. Chomps is sold through e-commerce and retail platforms such as Chomps.com, Amazon, Thrive Market, Trader Joe’s, Whole Foods Market, Walmart, and Costco. The company was founded in 2012, and is based in Chicago, Illinois.
Founded in 2019, Stride is a Massachusetts-based private equity firm that specializes in partnering with talented and dynamic founders, entrepreneurs, and business leaders. The Stride team has worked side by side with the founders and teams of Brew Dr., drybar, Essentia, First Aid Beauty, Jeni’s Splendid Ice Creams and other dynamic, distinctive, brands. Stride provides growth equity with flexibility in stage and structure and investments ranging from $10 to $150 million of equity in minority and majority transactions.
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