Fiasco Completes Friends & Family raise of $1.2M to fund Growth and Operations
Calgary, Alberta, Canada - January 7, 2019 Fiasco - the maker of Canada’s #1 artisan gelatos and sorbettos - is pleased to announce the closing of their third private friends and family equity raise totalling $1.2 M (Class B Shares), with support from CG Wellington. The financing was led internally with the support of New Globe Consulting, including recurring investment by several early supporters, as well as a select group of new investors welcomed into the family.
The funds will primarily be used to increase access and distribution in Canadian grocery through major partners. The funds will also support a market expansion project through the Canadian Agriculture Partnership’s (CAP) Value Added Products to Market program. This project is focused on creating increased brand awareness for Fiasco throughout Canada to capitalize on its increased distribution plans in Ontario, Quebec and the Maritimes.
“For a very long time this great company grew with no outside investment. Acknowledging that we had some great people on the sidelines wanting to support our growth, gave us the comfort that sharing a bit of the company with them was the right way to grow” said James Boettcher, Chief Idea Officer, Custodian of Culture and CEO. “These people see the world the way that we do, and acknowledge we are not willing to sacrifice our values, culture, or uncompromising product quality standards. This additional capital will give us the resources we need to continue to enrich people’s lives, one tiny spoonful at a time.”
Maker of Canada’s No. 1–selling gelato and sorbetto, Fiasco has quickly become the industry leader not only for their commitment to the craft but also for their approach to doing business differently.
Fiasco produces high-quality authentic gelato made with only natural, non-GMO ingredients. Fiasco is committed to sourcing milk and other ingredients as regionally as possible, and strengthening its surrounding local economies. Fiasco also re-invests 1% of its annual top line revenue into the community through organizations and charities committed to reducing poverty, ending domestic violence, and supporting youth.
Fiasco’s leadership has been recognized as one of Canada’s fastest growing companies 4 years in a row, acknowledged as a Best For The World Honoree By B Corporation, and has received the nod for several empowering community awards. In just under four years since their first pint hitting grocers shelves, Fiasco is now available in over 2,200 retailers and restaurants across Canada. The purpose driven team at Fiasco stands by its mission to enrich people’s lives. They just happen to do it by making gelato.
About CG Wellington
CG Wellington is a customer-driven company that serves the dairy and other agricultural sectors with creative products and support. CG Wellington’s goal is to continue to be leaders in dairy farm engineering by providing advanced, leading edge milk production, milk quality and animal welfare solutions to their customers. CG Wellington thrives on challenge and prides themselves on embracing innovation to meet the needs of their customers.
To find out more please visit www.cgwellington.com
Media contact: Brittany Back- Marketing Lead | 403.452.3150 | firstname.lastname@example.org