Chef'n Corp. Receives Investment from CID Capital
December 14, 2011,
SEATTLE-Housewares company Chef'n Corp. has received a capital investment from private equity firm CID Capital, a partnership that gives Chef'n the capital and managerial resources to grow its core Chef'n and Vibe brands globally, as well as expand its private label business, according to the company.
Chef'n's existing management team will continue to manage day-to-day operations and plans to add new resources to align with future growth initiatives.
"This deal will give us more resources to meet the growing demand for Chef'n products, not only domestically but worldwide," said David Holcomb, CEO. "We found a partner who not only had knowledge and expertise in our industry but also appreciated the Chef'n innovation and culture. CID's experience in growing consumer product companies through new product and marketing initiatives as well as sensible acquisitions made them a perfect choice for my vision of the company."
Scot Swenberg, managing director, CID Capital, added, "We were initially drawn to Chef'n by their broad line of products and seasoned management team and we are particularly excited by the potential of their in-house design team dedicated to new product development."