Natural Way Food Group, a Fayetteville-based startup, has raised $1 million in capital funding.
According to company co-founder Austin Simkins, the funding will be used to expand distribution for Natural Food Way Group’s products, as well as increasing the size of the company’s team.
“This capital raise will allow Natural Way Food Group to invest in all facets of our business,” Simkins said in a statement. “We feel great about our current product portfolio and retailer partnerships. We are excited to be able to expand distribution and deliver more healthy and sustainable products to market. We are also focused on investing in people, filling important positions and expanding our already great team.”
Founded in 2017 by Austin and Quinn Simkins, Natural Way Food Group produces a range of nut butters using olive oil. The company produces peanut butter in multiple flavors and has launched a line of almond butters.
The capital round was led by Tusk Private Investment. With offices in Dallas and Northwest Arkansas, Tusk bills itself as a firm that focuses on investing in, acquiring and scaling privately-held operating businesses. According to the company’s website, it focuses on companies in the mid-America heartland with revenues of $5 to $50 million in the business services, new age retail and hospitality, consumer product, e-commerce, supply chain and logistics, health care, education and technology enables business solutions sectors.
“Natural Way is truly representative of the type of businesses we’re looking to invest in and partner with,” Tusk Private Investment managing partner Aaron Pierce said in a statement. “Founders, Austin and Quinn Simkins, have developed a category leading product that tastes exceptional and is both healthier for you and better for the environment. The unique combination of talented founders of a well-run family business, doubling revenues annually with a superior product, in a growing category segment is rare to find and we’re excited to grow Natural Way and support their continued expansion over the coming years.”