Picnik and KarpReilly Announce Partnership to Innovate and Bring Real Food to the Masses

AUSTIN, Texas - Sept. 10, 2018 - PRLog -- Picnik has secured $7.5 million of investment from KarpReilly, LLC, a private equity firm based in Greenwich, CT. This raise will help fund an expansion of Picnik's restaurants as well as provide continued growth and innovation opportunities for Picnik's CPG line of products. While staying true to their commitment to high-quality ingredients, this partnership will enable Picnik to expand to a greater client base nationwide introducing more products to untapped markets.

Since 2013, Picnik's mission has been to shift the paradigm of the food and beverage industry toward readily-accessible products that are nutrient-dense, flavor-focused and free from common allergens such as gluten, soy, corn, and peanuts. Currently, they operate three locations in Austin, TX as well as a coffee shop inside the Whole Foods Market 365 Store in Upland, CA.

In addition to their retail locations, Picnik has launched six ready-to-drink bottled beverage SKUs in the last 12 months, alongside a functional coffee creamer that contains grass-fed butter, MCT oil, and grass-fed whey protein. Their bottled beverages (Cappuccino, Mocha Latte, Dirty Chai, Extra Bold, Vanilla Latte and Golden Milk Matcha) are being sold in independent retailers and grocery stores nationwide. As a company, Picnik is promoting the importance of a diet rich in whole foods for optimal health.

Picnik CEO and founder, Naomi Seifter, says, "When we discussed raising capital for Picnik, we were set on finding a partner who not only believed in Picnik's growth potential but who also had respect for Picnik's commitment to quality ingredients. It is always easier in the business world to revert to cheaper, less-thoughtful ingredients for the financial benefit of the company. We wanted a partner who stood behind our integrity commitment and supported our ethos. From the very first conversation, it was clear KarpReilly was the perfect fit for Picnik. Allan, Hank, and the whole KR team have provided not only financial support for our company but also invaluable training in both the restaurant industry as well as the CPG industry. Their knowledge, passion, and support of our mission made them the perfect partner for Picnik, and we are looking forward to a bright future together."

"We are incredibly excited to be partnering with Naomi and the Picnik team. The unifying theme across their many successful projects is an unrelenting focus on the customer and what is important to them. Picnik's commitment to maintaining the highest standards for ingredient quality and sourcing, supporting their communities and building a team that lives the brand has resonated strongly with consumers. We think this approach to building their business will continue to result in opportunities to grow the brand and broaden the way in which it touches its customers." KarpReilly co-founder Allan Karp said.

About Picnik
Picnik aims to shift the paradigm of conscious consumerism in the food space in a practical and convenient way. Picnik has four locations; three locations in Austin, TX, and a coffee shop in Whole Foods Market 365 in Upland, CA, as well as a line of CPG bottled beverages and a coffee creamer. For more visit: https://picnikaustin.com/

About KarpReilly
KarpReilly, LLC is a private investment firm, founded by Allan Karp and Chris Reilly, whose primary mission is to partner with premier small to mid-size consumer growth companies and help them achieve their long-term vision. Over the past ten years, the principals of KarpReilly have invested in, sat on the boards of and nurtured over 25 consumer growth companies. For more visit: http://www.karpreilly.com/