BIGR (Boulder Investment Group Reprise) Leads Round to Increase Marketing, Visibility of BOBO’s Baked-From-Scratch Oat Bar Brand
BOULDER, Colo. – March 2, 2017 – BOBO’s, the baked-from-the-heart-in-Boulder oat bar brand, today announced its first ever capital round, an $8 million Series A investment to help the company continue its mission of reshaping the nutrition bar category. The minority investment, led by BoulderInvestment Group Reprise (BIGR) also includes Range Light LLC, a Boulder-based investment firm, and will allow BOBO’s to accelerate marketing efforts and build out a national sales team to bring its famous handmade oat bars to more coffee shops, convenience stores, natural food, supermarket retailers and lunch boxes across the country.
The announcement comes on the heels of BOBO’s rebrand and renovated product line in December 2016, continuing the company’s momentum of bringing a new look and expanded flavor offerings to snack and nutrition bar aisles.
“From the moment Beryl Stafford locked in her oat bar recipe with her daughter ‘Bobo’ in 2003, consumers have loved BOBO’s for its fresh take on the bar category today,” said TJ McIntyre, CEO of BOBO’s. “Our Boulder bakery is the key point of difference for our company, with a goal of bringing the bakery department to the center aisle with our handmade, homemade and incredible tasting bars. When BOBO’s gets placed alongside the current bar set, it’s almost like mom came out of the kitchen with something hot from the oven.
”Founded in 2003, BOBO’s doubled retail distribution from 2,500 to more than 5,000 doors in 2016, and plans to triple gross revenue by 2018. Today, BOBO’s more than one dozen flavors, and multiple size offerings can be found at Whole Foods Market, Sprouts, HEB, Vitamin Cottage Natural Grocers, King Soopers and Safeway.
“BOBO’S represents an evolution of the bar category, marrying a fresh-baked, handmade product with convenient, whole-food nutrition; we believe that to be a powerful combination,” said Duane Primozich, Managing Partner, Boulder Investment Group Reprise. “We’ve known TJ for more than 15 years, and,
along with the team he and Beryl are building, we’re anxious to roll up our sleeves and support theBOBO’s brand.”
“At Range Light we invest in great brands and exceptional people and Bobos has clearly demonstrated that it has both of those key components. We are thrilled to be partnering with both BOBO’s and BIGRon this investment,” added Erich Tengelsen, Managing partner of Range Light LLC.
In conjunction with the funding, BOBO’s has announced the addition of three industry leaders to the team.Cheryl Christian, former vice president of sales at Vosges and a CPG veteran with more than 20 years of experience at Kraft, joins BOBO’s as vice president of sales, while Mark Borden has been hired as vice president of finance, and Colin Berry joins BOBO’s as director of food service sales after 12 years at Clif Bar.
BOBO’s hand bakes simple, nourishing food from the heart for everyone craving a delicious, homemade snack. Founded in Boulder, CO in 2003, BOBO’s began as a mother-daughter baking tradition with a mission to bake healthier, more nutritious snacks. BOBO’s quickly became a local Boulder favorite and today is sold in grocery stores nationwide. At 3oz per bar, BOBO’s offers a more satiating snack than most of the bar category. BOBO’s 3oz Bars come in 15 delicious flavors and the 1.3oz Bites are available in six flavors; each are gluten-free, vegan, kosher and non-gmo verified. At BOBO’s, we feed you like we feed our family, with hand-baked products that bring you home.