Tosi Snacks Secures Fresh Funding and Appoints New CEO to Drive Growth and Expansion

Tosi Snacks, a California-based company specializing in USDA Organic certified, gluten-free, and vegan snack bars and clusters, has secured fresh funding and appointed a new leader. The company’s Series B round, led by existing investor Cambridge SPG, is expected to close with an amount exceeding the $15.8 million already reported in an SEC filing, according to Kevin Rutherford, the new chief executive officer.

Rutherford, who previously served as Tosi’s board chair for nearly two years, has taken on a more hands-on leadership role in the company’s day-to-day operations. The decision was encouraged by mother-daughter co-founding team Stefanie and Chelsea Hults, who will remain in critical roles as the team evolves into the new leadership structure and builds out specific job responsibilities.

Rutherford brings extensive experience from his marketing and leadership roles at companies like SC Johnson, Miller Brewing Co., Kashi, and Nuun Hydration. He aims to help steer the brand’s efforts in building awareness and trial, with the new funding primarily going towards increased marketing spend on demos and sampling.

Tosi Snacks has seen significant growth, with sales increasing by about 300% over the last couple of years. The company is now ready to add more fuel to its wide retail distribution network and e-commerce channels, where it has been focusing over the past year.

Rutherford emphasizes that there is real energy behind the brand, with consumers looking beyond the term “better-for-you” and seeking distinctive and highly differentiated products, which Tosi embodies. The company’s products are sold in over 1,200 U.S. stores, as well as in Dubai, Hong Kong, and the Dominican Republic.

The new funding will enable Tosi to scale to a new level, addressing the need for the founders to transition from handling everything themselves to a more structured and specialized approach. Rutherford is excited to lead a team where he can directly impact the brand’s trajectory, leveraging his expertise to drive growth and expansion.

In contrast to Tosi Snacks, another company with a similar name, Milk Bar, founded by Christina Tosi, has also secured funding. However, Milk Bar’s funding round, led by RSE Ventures, is distinct and unrelated to Tosi Snacks’ Series B round. Christina Tosi’s Milk Bar has been expanding its bakery operations and preparing to launch into retail with a line of snack products.

Tosi Snacks’ strategic investment from Cambridge SPG marks a significant milestone for the company, providing the necessary capital to propel its growth and establish itself as a leader in the snack bar category. With Rutherford at the helm and the support of Cambridge SPG, Tosi Snacks is poised to continue its upward trajectory and make a lasting impact in the market.

The company’s focus on e-commerce and retail expansion, coupled with its commitment to producing high-quality, organic, and vegan products, positions it well for continued success. As consumers increasingly seek healthier and more sustainable options, Tosi Snacks is well-equipped to meet this demand and capitalize on the growing interest in better-for-you snacks.

With its fresh funding and new leadership, Tosi Snacks is set to embark on an exciting new chapter, leveraging its unique products and strategic partnerships to drive growth and establish itself as a leading brand in the snack industry.