Serenity Kids Closes $52 Million Series B Investment Round Led by Stride Consumer Partners to Support Rapid Growth and Mission
Leading shelf-stable baby and toddler food brand plans to utilize the capital to further accelerate the brand's category leadership, retail distribution, and innovation
AUSTIN, Texas, March 11, 2024 /PRNewswire/ -- Today, Serenity Kids, the leading shelf-stable pouched baby food brand in the country(1), has closed a $52 million minority investment and partnership with Stride Consumer Partners LLC ("Stride"), a growth-equity investment firm focused on the next generation of great consumer brands and services.
Serenity Kids was created and is led by co-founders Serenity and Joe Carr who could not find baby food options that were both low in sugar and contained balanced macronutrients, so they decided to make their own. Since launching in 2018, Serenity Kids has quickly become the fastest selling shelf-stable baby food pouch brand in all grocery channels(2). The brand offers nutrient-dense products that contain the highest quality proteins and healthy fats across pouches, puffs, and toddler formula with national distribution in over 18,000 stores, including Whole Foods Market, Sprouts, Walmart, Target, Kroger, Publix, Amazon, Thrive Market, and more.
"The current investment landscape is pretty dire, so our ability to attract this financing and partnership validates our differentiation, mission, and growth potential. We're excited to pour more resources into our revolution that elevates children's nutrition so that all future generations can thrive," said Joe Carr, President and Co-Founder of Serenity Kids. "We are profitable and were not seeking to raise funds, but when we met the Stride team we immediately connected with them and appreciated their approach to building strong sustainable brands. The Stride team's proven track record partnering with companies like Yasso and Chomps makes us confident that they can help take us to the next level."
Serenity Kids' success, including 71% year-over-year retail revenue growth in 2023 versus 2022(3), can be attributed to the brand's strong product quality and differentiation, unique innovation, and commitment to the highest nutritional, ethical, and taste standards that parents seek today. With their Ethically Sourced Meat Pouches as a top performing product line, Serenity Kids is elevating the category by providing healthy meat-based protein solutions for little ones that are dramatically outperforming(4) traditional fruit-based purees at both natural and conventional retailers. The brand was recognized on Inc. 5000's fastest growing companies list of 2023. Serenity Carr, CEO and Co-Founder of Serenity Kids, was named one of Inc.'s 200 Best Female Founders in 2023.
"We launched Serenity Kids to create superior products that give little ones the best start possible," said Serenity Carr. "Stride's team has already been super collaborative, and we're confident they're the right partner to help propel our business into the next phase. We look forward to working with them to achieve our goal of helping babies grow up healthy, happy, and strong."
The growth capital from Stride will fuel investment within key areas of Serenity Kids' business, namely marketing, talent, and innovation. The funds and strategic partnership with Stride will support Serenity Kids' vision to improve the well-being of all children by making it easier for parents to feed their kids the healthiest food.
"In my 20 years of experience in growth equity investments, I have rarely seen a brand with such a consistent track record of winning at the shelf as Serenity Kids," said Juan Marcos Hill, Partner at Stride Consumer Partners. "We were impressed with the brand's unique positioning and the team's vision and passion to provide the highest quality, most nutrient-dense products for babies and toddlers. We look forward to supporting the Serenity Kids team on their continued expansion as they seek to transform the standard in baby and toddler food."
Serenity Kids offers baby food pouch varieties in five lines: *new* World Explorers, Dairy-Free Smoothies, Ethically Sourced Meats, Organic Savory Veggies, and Purees with Bone Broth, as well as zero-sugar Grain Free Puffs, and a first-of-its-kind A2 Whole Milk Toddler Formula. These differentiated baby food recipes introduce savory flavors early and sets children up for a lifetime of healthy eating without an early craving for sugar. Serenity Kids is committed to only using premium-quality ingredients without any antibiotics, added hormones, pesticides, fillers, or major allergens. All of Serenity Kids' products are third party tested for over 200 heavy metals and contaminants and are made with ethically sourced, regeneratively farmed meats and Certified USDA Organic vegetables, herbs, and spices.
Serenity and Joe Carr will maintain ownership and continue to run the company with this significant and timely financial investment.
Kirk Lin, Serenity Kids' VP of Finance played a pivotal role in this transition and Haynes & Boone served as the exclusive legal advisor to Serenity Kids. Latham & Watkins LLP served as the exclusive legal advisor to Stride Consumer Partners.
About Serenity Kids:
Serenity Kids makes premium baby and toddler food products of the highest nutritional, ethical, and taste standards. Serenity Kids only uses ingredients without any antibiotics, added hormones, pesticides, fillers, GMOs, or major allergens. The brand has established partnerships with Land to Market and Partnership for a Healthier America. All of Serenity Kids' products are Clean Label Project certified, and the brand is one of the few baby and toddler food companies that has received a Clean Label Project Purity Award. Serenity Kids' meat and vegetable pouch lines as well as the Grain Free Puffs line and new Toddler Formula are available online at www.MySerenityKids.com, Amazon, and Thrive Market, and in over 18,000 grocery stores nationwide including Harris Teeter, select H-E-B locations, Kroger, Natural Grocers, Meijer, select Albertsons/Safeway locations, Sprouts, Target, Wegmans, Whole Foods Market, Walmart, and more. For more information on the brand, mission, and products, please go to www.MySerenityKids.com, and follow them on Instagram and Facebook.
About Stride Consumer Partners:
Stride is a private equity firm that specializes in partnering with talented and dynamic founders, entrepreneurs, and business leaders to build the next generation of great consumer brands. Founded by a passionate group of experienced investor-operators, Stride's unique approach brings together a fully integrated team of successful investors working alongside seasoned operators to assist high-growth and disruptive consumer products and services businesses to hit their stride. Together, Stride supports its partners on their journey as they take decisive steps toward delivering on their vision. Within consumer, the firm focuses on the following areas of expertise: beauty and personal care, food and beverage, active lifestyle, and multi-unit consumer services. The Stride team has had the pleasure of working side-by-side with the founders and teams of Brew Dr., The Bruery, Chomps, drybar, Essentia, First Aid Beauty, Jeni's Splendid Ice Creams, MacKenzie-Childs, Odele, Patrick Ta, Simms Fishing Products, Skinfix, Tatcha, Truewerk, TRX, Urban Decay, and Yasso. For more information, please visit Stride Consumer Partners website.
Media contact:
Leah Brown
[email protected]
(858) 337-2995
(1) Leading defined as a brand with best-selling items. Serenity Kids Beef & Chicken have the most sales of any pouches in FMCG. Nielsen Baby & Toddler Food, Pouches, FMCG Channel, L13 WE 1/20/24
(2) Nielsen Baby & Toddler Food, Grocery Channel, L13 WE 1/20/24, $/TDP (Velocity)
(3) Nielsen Serenity Kids $ Sales, FMCG Channel, L52 WE 12/30/23
(4) $/TDP, Pouches in FMCG, L13 Wks ending 1/27/24
SOURCE Serenity Kids
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