SOURCE: Snikiddy Snacks

March 06, 2008 08:30 ET

Snikiddy Snacks® Secures Financing From an Entity of the D. E. Shaw Group

BOULDER, CO--(Marketwire - March 6, 2008) - Snikiddy, LLC, manufacturer of Snikiddy Snacks® -- an organic and nutritious snack brand for children -- announced today the completion of an investment by an entity of the D. E. Shaw group, a global investment management firm, under arrangements involving a commitment of up to $15 million of equity capital.

"We are excited about our investment in Snikiddy," said Bryan Martin, a managing director of D. E. Shaw & Co., L.P. and co-head of the D. E. Shaw group's U.S. growth and buyout private equity unit. "We see tremendous potential in the company, as consumers are increasingly looking for healthier food options for their families. Snikiddy's products are made with the highest quality organic ingredients and are superior in both taste and nutritional content to current offerings in this space. We believe our capital investment positions Snikiddy for strong growth, and we look forward to working closely with management as it develops the Snikiddy brand and product lines."

For Snikiddy, this capital investment will allow the company to accelerate national expansion and establish itself as a market leader in a rapidly expanding category -- organic and healthy children's snacks. As part of the transaction, Mr. Martin and Justin Chan of the D. E. Shaw group will join Snikiddy's Board of Managers.

"We are thrilled to have financial support from the D. E. Shaw group and their management expertise on our board," said Colin Sankey, CEO of Snikiddy. "The significance of this relationship allows us to focus on providing great products for our consumers and retailers. We couldn't ask for a better partner to support Snikiddy Snacks® and are well poised to build an exciting and strong brand."

"This investment provides us with a unique opportunity to realize our mission," said Mary Schulman, the company's founder and EVP of marketing and sales. "As the founder of the company and a parent myself, children's health is my passion and I look forward to sharing our organic and nutritious offerings with more and more consumers across the country."

Snikiddy Snacks® are delicious, fun-to-eat organic Cheese Puffs and Cookies available in a variety of flavors and developed for kids and families. Made with the highest quality organic ingredients (including Rapadura whole organic cane sugar) from original family recipes, Snikiddy Snacks® are perfect for lunchboxes, after school, and on-the-go treats.

About the D. E. Shaw group

The D. E. Shaw group is a global investment and technology development firm with more than 1,300 employees; approximately $35 billion in aggregate investment capital as of January 1, 2008; and offices in North America, Europe, and Asia. Since its organization in 1988, the firm has earned an international reputation for financial innovation, technological leadership, and an extraordinarily distinguished staff.

About Snikiddy Snacks®:

Founded in 2006 by Janet Owings and Mary Schulman, a mother/daughter team with a passion for children's health, Snikiddy produces Snikiddy Snacks® -- delicious, fun-to-eat organic Cheese Puffs and Cookies available in a variety of flavors and developed for kids and families. Made with the highest quality organic ingredients (including Rapadura whole organic cane sugar) from original family recipes, Snikiddy Snacks® are perfect for lunchboxes, after school, and on-the-go treats. They are available in individual Snack Pack sizes, Adventure Packs (boxes of five snack packs), and Sharing Packs™, which contain four to five servings per container. Cheese puffs include Rockin' Ranch, Pizza Pie, Grilled Cheese and new Mac n' Cheese flavors. Cookies include Chocolate Chippers, Cherry Oaties, and Banana Nibbles flavors. Snikiddy Snacks® are sold in natural and conventional grocery stores across the country, as well as online through Amazon.com and PeaPod. Founded in Bethesda, Md., the company also operates out of Boulder, Colo. For more information, visit www.snikiddy.com.

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