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Beanfields Snacks Lands New Investment

       
LOS ANGELES, CA, Beanfields Snacks announces its majority, controlling investment, led by Powerplant Ventures.
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Beanfields Snacks, a celebrated bean and rice tortilla chip brand, announces today its partnership with Mark Rampolla, Bruce Friedman, and Powerplant Ventures; a plant-centric venture fund. Mark Rampolla is the founder of ZICO Coconut Water, which changed the better-for-you beverage industry and was acquired by The Coca-Cola Company in 2013. Bruce Friedman is a successful media investor and operator now moving into the health and wellness industry. Powerplant Ventures is a Los Angeles-based venture fund committed to propelling the plant-based movement, founded by Rampolla and Veggie Grill Founders T.K. Pillan and Kevin Boylan.

This acquisition will excel the growth of Beanfields through the investment team's cumulative expertise, robust networks, and operating experience in the industry. Additionally, Beanfields has launched an equity and revenue-sharing partnership with local Los Angeles non-profit, Homeboy Industries; the largest gang intervention, rehabilitation and re-entry program in the world, founded by Fr. Greg Boyle.

Beanfields was founded in 2011 by Reed Glidden, his wife Liza Braude-Glidden, and his brother Roy Glidden. The brand launched with a philosophy that business can be used as a driving force for doing good. This mission is reflected in Beanfields roster of plant-based, Non-GMO snacks that deliver great taste with simple ingredients that are better for people and the environment. The brand's commitment to social impact and 'chipping in' perfectly aligns with Powerplant Ventures' mission of investing in world changing, plant-centric companies that deliver better nutrition in more sustainable and ethical ways.

"I could not be happier that we found partners in Mark and Bruce that not only share our mission to remake the food industry but that also share our values about doing so in a socially responsible way," said Reed Glidden.

"The Beanfields team has built a great brand, rooted in deep social values, that makes some of the best tasting, most nutritious chips on the planet," said Mark Rampolla, Co-Chairman of Beanfields. "Fr. Greg Boyle and the Homeboy Industries team are extraordinary at creating paths to jobs for people that desperately need and want them. We're trying to help both these organizations scale their impact together."

"At Homeboy Industries, we are dedicated to providing our clients -- previously incarcerated, gang-involved individuals and high-risk youth -- an invaluable opportunity to transform their lives so they can become contributing members of our society," said Tom Vozzo, CEO of Homeboy Industries. "We are honored that Beanfields -- a socially consciousness company with a commitment to giving back -- will be entering into an ongoing revenue-sharing partnership with us. This innovative ownership structure will allow us to continue to scale the impact of our work and serve the community."

About Beanfields Snacks
Beanfields Snacks, makers of Beanfields Bean and Rice Tortilla Chips, is a Certified B Corporation. Beanfields Bean and Rice Chips indulge your taste buds in every delicious crunch with seven tempting flavors: Sea Salt, Nacho, Pico de Gallo, Jalape├▒o Nacho, Black Bean and Sea Salt, White Bean and Sea Salt, and Barbecue. Beanfields Chips are always plant-based, certified gluten-free, Non-GMO Project Verified, kosher, and allergy-friendly. Beanfields bean and rice chips are sold in all 50 states and in Canada, Australia, the U.K., and other countries. Full-sized bags of Beanfields Bean and Rice Chips suggested retail price is $2.99-$3.99. Snack-sized bags are $1.19-$1.49. For more information on Beanfields, please visit www.beanfieldssnacks.com.

About Powerplant Ventures
Founded in 2015, Powerplant Ventures is a venture fund that supports world-changing, plant-centric companies that deliver better nutrition in more sustainable and ethical ways. With deep networks and operating experience in plant-based innovation, natural foods distribution and venture investing, Powerplant Ventures is equipped with the unique ability to identify, attract and advance a portfolio of emerging companies across the intersection of food and technology. The fund looks beyond the bottom line to work with companies that are focused on impacting the global food system with transparency and sustainability. For more information about Powerplant Ventures, please visit www.powerplantvc.com.

About Homeboy Industries
Homeboy Industries is the largest and preeminent gang rehabilitation and re-entry program in the world. Homeboy offers an "exit ramp" for those stuck in a cycle of violence and incarceration, helping them develop the strength and skills to transform their lives and become contributing members of society. The organization's holistic approach, with free services and programs, supports 10,000 men and women a year as they work to overcome their pasts, reimagine their futures, and break the intergenerational cycle of gang violence. Therapeutic and educational offerings (case management, counseling, and classes), practical services (e.g., tattoo removal, work readiness, and legal assistance), and job training-focused business (e.g., Homeboy Bakery, Homegirl Caf├©, and Homeboy Silkscreen & Embroidery) provide healing alternatives to gang life, while creating more inclusive and healthier communities. For more information on Homeboy industries, please visit www.homeboyindustries.org.
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