NEW YORK — Monolith Brands, an omnichannel CPG company looking to acquire strong, established brands in various markets, announced Sept. 27 it has raised $50 million of equity and $180 million in debt capacity in its recent Series A funding round.
“We are building a next-generation consumer goods company with a curated portfolio of brands that are well-positioned within their respective categories,” said Pierre Abousleiman, co-founder and co-chief executive officer of Monolith. “We operate in a dynamic marketplace where many brands have recently had to adapt to a shifting environment. By identifying a core set of criteria — coupled with our disciplined approach to capital deployment and operational expertise — we have positioned ourselves for sustainable growth through market cycles.”
The funding round was led by Hayfin Capital Management and Ares Management Credit Funds.
“We are grateful to all of our investors for their confidence in Monolith, including Hayfin and Ares, with whom we are excited to partner on this journey,” Abousleiman said.
Monolith Brands’ growth strategy involves acquiring well-known, differentiated brands in the following high-growth markets: the pet products sector, baby and toddler products, health and personal care products, and sporting and outdoor goods. The company has selected these markets as they “demonstrate the highest potential for long-term growth and customer loyalty,” Monolith stated.
Aside from looking for established brand strength and long-term partnership opportunities in these four markets, Monolith is also homing in on brands with an omnichannel retail presence.
“Not only have we established a strategy for identifying the right brands and building a high-quality portfolio, but we are also providing resources to brands so they can unlock growth opportunities that were previously unavailable,” said Jonathan Shifke, co-founder and co-CEO of Monolith. “This is truly a win-win for Monolith and our brand partners who benefit from the strength of our platform and proprietary insights to grow revenue across channels in a targeted and highly effective manner, enhancing Monolith’s value proposition for new brands in the process.”
Monolith will leverage its new-found capital to expand its portfolio and build on cross-selling opportunities across overlapping customer bases.
“Through its disciplined technology-driven approach to building its consumer portfolio, we believe the team at Monolith has positioned the company as a leader in its sector,” said Chrissy Svejnar, managing director at Ares Credit Group. “We are pleased to provide financing that will support their long-term growth plans.”
Monolith’s leadership team brings experience from finance, operations, e-commerce and software development to the table for its brand partners. The company currently employs about 60 people and is based in Salt Lake City, Utah.
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