[October 21, 2014]

Madhava Natural Sweeteners Celebrates Sweet Heritage and Expanded Product Offerings Alongside Investors Greenmont Capital Partners

Madhava Natural Sweeteners, a pioneer in the natural sweeteners industry, has continued to evolve since its inception over 40 years ago. The company has grown, not only from an operational standpoint with investments from Greenmont Capital Partners, but in its evolution from a commodity-based business to a brand offering a sweet array of products that add value to consumers' everyday lives. Greenmont Capital recently increased its investment in Madhava with the latest round of capital to support continued double-digit growth. Additionally, Madhava announced the addition of its newest board member, Jane Miller, formerly CEO of Rudi's Bakery and a highly regarded leader in the organic food space.

Founded in 1973 as a honey producer, Madhava co-founder Bart Utley sold honey out of the back of his van in Boulder Canyon. In 1976, Bart hired Craig Gerbore to help grow the business, which then consisted of a humble five-acre farm with two beehives. Gerbore remained involved in day-to-day operations until 2010 and today serves as a member of Madhava's Board of Directors.

Since its beginnings, Madhava has become a recognized and trusted innovator in the sweetener category, dedicated to providing healthy alternatives to highly processed, refined sugars and artificial sweeteners. Today, Madhava offers its beloved organic honey and agave plus an expanded portfolio of better-for-you sweet treats.

"Madhava is a true legacy natural foods brand. Our efforts have blossomed beyond honey," said Debbie Carosella, CEO. "We've taken a love of all-natural sweeteners and created delicious new products including Organic Honey to complement our Colorado Ambrosia honey, Agave, Coffee and Pancake Syrups, Organic Bake ixes, Organic Better Baking Blend of coconut and cane sugars, Organic AgaveFIVE® Sweetener and AgaveFIVE® Drink Mixes that provide a mild, sweet taste with only 5 calories and no bitter aftertaste."

Madhava Natural Sweeteners has grown exponentially over the past few years. Eight years ago, Madhava employed nine people, and today, there are close to 70 employees. The company has more than doubled sales from two years ago surpassing the $30M sales mark, and Madhava has distribution in more than 8,000 retail locations across the United States.

"In 2002, Madhava pioneered and launched the agave category in the United States," said Carosella. "Continuing their commitment to the natural products industry, Madhava Agave Nectar (News - Alert) is a natural sweetener that can replace processed sugar and artificial sweeteners for people looking for an all-natural sugar replacement with a mild taste and no chemical aftertaste. It is sustainably grown and is a low-glycemic sweetener, which has found broad appeal among consumers looking for a healthier sweetener alternative."

Madhava offers 100 percent pure agave nectar certified USDA Organic without additives, pesticides, chemical processing or GMOs. As a natural plant-based food, agave nectar contains no gluten, nuts or dairy. Madhava Agave Nectar is also vegan and kosher.

With its dietary advantages and affordable price, Madhava Agave Nectar has become the leading agave brand in retail channels. In addition, Madhava Organic Coconut Sugar is also the #1 leading coconut sugar brand in retail channels and has begun to outpace category growth, with a 170% growth rate over the past year, indicative of the distribution and velocity gains still occurring with one of the newer sweeteners.

"In 2011, Madhava announced the launch of its Organic Coconut Sugar," said Carosella. "The USDA-certified organic sugar is unrefined so it retains the naturally occurring vitamins and minerals including magnesium, potassium, zinc, iron, B vitamins and amino acids. Plus it adds an ideal caramel taste to your favorite baked goods, making it many bakers secret ingredient for great tasting baked treats. "

Despite so much success, Madhava remains committed to its roots. In March 2012, Madhava began to receive verifications from the Non-GMO Project. The verification is a part of the company's continued commitment to meeting consumers' demand for natural, sustainable and non-GMO foods.

"Success hasn't hampered Madhava's commitment and enthusiasm to do the right thing for people and the planet," said David Haynes, Managing Director, Greenmont Capital Partners. "Madhava continues to support their core values of providing natural and healthy alternatives to highly processed, refined sugars and artificial sweeteners. They do this while producing the highest quality products that promote and respect the health of the earth and their customers."

Several years ago Madhava launched its "Sweet Earth Project" in support of its long-standing relationships with Madhava's quality honey suppliers. The goal of this initiative is to help save the bees and enhance sustainability. Madhava contributes 10 cents of every jar of organic honey sold to non-profit organizations working to save the bees and enhance sustainability through education, awareness and action.

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