The manufacturers of natural beauty brand Yes To Carrots have secured a $14m financing deal to support wide ranging growth plans.
Later this year Yes To Carrots will be joined worldwide by Yes To Cucumbers and Yes To Tomatoes in an expansion drive by Israel-based firm Yes To.
Going for growth
New brands and products will spearhead Yes To's plans to take out a larger chunk of the $267bn global beauty care market.
Yes To is paying special attention to the North American market where the company intends to cast its distribution net wider.
Yes To Carrots debuted in the US last year and so far its products have been sold mainly through mass market retailer Walgreens. Sales in the country have more than doubled since and further expansion is expected as distribution deals with other major retailers on the near horizon.
Financing for expansion plans
To fund these projects Yes To signed funding deals with San Francisco Equity Partners and Simon Equity Partners.
"We are thrilled to add both firms to the Yes To team as we capitalize on the explosive worldwide demand for our brand," said Yes To CEO Ido Leffler.
"Both firms have outstanding track records in funding and providing strategic support for high-growth natural and organic brands."
The investors themselves heaped praise on Yes To and emphasized their potential in the natural market.
"Yes To has the right vision and market strategy to establish brand leadership across many product lines in the natural personal-care market worldwide," said Steve Simon, managing partner of Simon Equity Partners.
Scott Potter, managing partner of San Francisco Equity Partners added: "The company has a unique brand with multiple attributes that resonate with consumers, including natural paraben-free formulations, high efficacy, and a fun brand personality."