Vegan Brand Expands Its Walmart Presence with $7 Million Investment
Today, vegan brand Alpha Foods announced that it closed a $7 million investment round led by firms New Crop Capital and AccelFoods. In 2018, Alpha Foods debuted its line of frozen pot pies—in flavors such as Beefy Cheddar, Chik’n Veggie, Pizza, and Buffalo Chik’n—at Walmart stores nationwide. Cole Orobetz and Loren Wallis—who founded the brand in 2015—plan to use the new capital to grow their team, increase marketing efforts, develop new products, and expand Alpha Foods’ store presence at Walmart. “The consumer appetite for plant-based food options right now is very strong and is here to stay and it is not just a fad,” Orobetz told VegNews. “When combined with strong retailer support for emerging plant-based brands, expanded menu options in food service, and strong public awareness for the benefits of plant-based diets for human health, planet health, and animal welfare, there is really no better time for investors to deploy money into the space for those poised to capture the attention of mass-market consumers looking to make changes to their diets.” In addition to Walmart, Alpha Foods’ products—which also include vegan burritos, nuggets, and tamales—are available at other retailers, including Kroger, Publix, and Wegmans.