ICELAND— Good Good, the Icelandic breakfast & brunch brand known for its no added sugar products, announces the closing of a $20 million Series B round of investments led by SÍA, the leading private equity group in Iceland, along with additional private investors.
Good Good say they aim to innovate great-tasting with no added sugar alternatives in a world where such products are necessary for everyday living.
“With this new round of $20 million, we are on track to materialize our vision of making a positive impact on our consumers. We are continuing to add talented employees to our team to bring Good Good into more households and further develop our product line.”
“We first met the Good Good team in 2019 and were impressed by their initial success and data-driven approach,” said Heidar Ingi Olafsson, SÍA IV Managing Director.
“Having kept an eye on the company since, we’ve been thrilled with their ability to innovate and execute on their brand vision. We are excited to have participated in Good Good’s recent share offering and look forward to working with its co-founders, Agnar, Gardar, and Jóhann to bring the business to its full potential.”
This is SÍA IV’s second investment, having already deployed more than US$400 million to support local companies with clear business strategies that have the potential to reach international markets.
“The increase in share capital will allow us to strengthen our powerful product development and marketing efforts,” said Gardar Stefansson, co-founder, and CEO of Good Good. Noting that the funds will go towards cementing international growth particularly in the US, as well as online sales.
“We are thankful for the support from our current investors and board, along with the trust and confidence from our new investor, SÍA IV, and other private investors that participated in this funding,” he added.
This news coincides with the launch of the brand’s low carb, no added sugar Peanut Butter product, and recently acquired distribution into 3,500 Walmart locations with its line of Strawberry and Raspberry Jams, Concord Grape Jelly, and Chocolate Spread.
Starting with no added sugar, and low-carb jams, today the brand offers a line of spreads, keto bars, syrups, jams, and natural sweeteners.
Being added to Good Good’s roster is a game-changing low carb Peanut Butter, that has only 2-g net carb per serving and includes natural fibers from Chicory Root.
As with the majority of Good Good products, the Peanut Butter is non-GMO, gluten-free, keto, diabetes-friendly, and free from added sugars and artificial sweeteners.
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