HomeFoodInvestment group snags stake in salsa maker

Investment group snags stake in salsa maker

ALBANY, NY. — Investment group WP Strategic Holdings, LLC has acquired a majority stake in Larry’s All-Natural, a producer of six forms of salsas and cooking sauces.

Financial phrases of the transaction weren’t disclosed.

Founded in 2009 by Larry Sombke and his spouse, Cathy Herman, Bethlehem, NY-based Larry’s All-Natural presents six forms of salsas and sauces: chunky medium salsa, chunky gentle salsa, salsa verde, ranchero sauce, mole sauce and chipotle sauce.

Todd Kletter, managing associate of WP Strategic Holdings, mentioned the funding agency plans to “expand quickly” into nationwide and regional pure channels. The agency is also in discussions with a number of corn chip producers about doable partnerships, and is working with a sizzling sauce firm to collaborate on a “hot” model of Larry’s salsa, he mentioned.

Following the acquisition Larry’s day-to-day operations will probably be overseen by Tyler Gregory, senior adviser at WP Strategic Holdings. Mr. Gregory was employed particularly to steer the expansion initiative for Larry’s. WP Strategic Holdings expects to extend gross sales for Larry’s All-Natural five-fold by 2025.

Mr. Sombke, in the meantime, will stay with the corporate for 3 years and preserve an possession curiosity.

The acquisition of Larry’s is the second funding in the meals area for WP Strategic Holdings. In April 2021 WP Strategic Holdings took majority possession of Viva Oats, an power bar startup.

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