Taking Cabot to new categories to use the Farmers’ Brand for new income sources
Vermont Business Magazine Alpine Summit Capital Partners (ASCP), a Vermont-based private equity firm launched in 2018 to leverage brands’ value into new categories, is investing in a new company, Vermont Cheese Products, Inc (VCPI). The first license by VCPI covers a line of specially branded consumer snack products under the Cabot brand, held by Agri-Mark, the Northeast’s premier dairy cooperative with more than 800 farm family members.
VCPI will produce an array of high-quality products that align with Cabot’s legacy as “Makers of The World’s Best Cheddar.” For Cabot, VCPI will initially focus on Cabot-branded boxed macaroni and cheese, popcorn, and potato chips. According to VCPI Chief Executive Officer Adam Farmer’s assessment and reason for the license is the potential he and his partners see to grow Cabot in the Snack Food Category.
“Many of today’s best-selling consumer snacks are cheese-based products. But no other snack food brand in the US, especially on the East Coast, has the consumer affiliation nor the B Corp certification we found with Cabot,” Farmer said. “In fact, many popular snack food brands do not even contain real cheese at all. All of our products are made with the exact same, award-winning cheese that has made Cabot a household name. Working with Agri-Mark/Cabot opens up a world of possibilities to produce unique flavors combinations and healthy snacks that do not require refrigeration.”
Farmer noted VCPI will align their product offerings with Cabot’s award-winning cheeses by first introducing, easy-to-make and delicious Cabot Seriously Sharp Mac & Cheese, followed shortly thereafter with Cabot Seriously Sharp, Pepper Jack, and Maple Cheddar popcorn flavors. Additionally, VCPI plans to introduce Habanero Cheddar, Spicy Jack Cheddar and Smokey Bacon Cheddar popcorn flavors, along with other unique flavors in the coming months. There will also be seasonal variations such as Apple Pie Cheddar Popcorn in the Fall, Farmer continued, "The use of new flavors will continue to cause excitement around the Cabot-branded snacks.”
Agri-Mark Board Chair James ‘Cricket’ Jacquier saluted the latest license adopted by the Board of Directors, “…to introduce more consumers to Cabot in the snack aisles and to more parts of the country. Our farmers have invested heavily in our brand, plants, and equipment with our team members. Licensing is a way our farmers’ brand value can add a new income stream.”
According to Alpine Summit advisor, Jeffrey Hollender, co-founder of Seventh Generation, “We’re thrilled to collaborate on several exciting line extensions for the Cabot Brand, beginning with the introduction of Seriously Sharp Mac & Cheese that is just now hitting select stores in the Northeast,” Hollender said. “Cabot has been an amazing and iconic brand for more than a century and represents everything that is wonderful about Vermont and cheese. We’re especially grateful to the 800 hard-working Cabot farm families that make all of this possible.”
Farrell Distributing of Vermont, which is the exclusive distributor of the product line throughout the Green Mountain State, is also an investor in VCPI. “We are thrilled to be a part of this exciting new chapter in Cabot’s proud history of delivering world-class products to their many loyal consumers who have grown up enjoying the World’s Best Cheddar,” said David Farrell, President/CEO of Farrell Distributing. “Like Cabot, Farrell is deeply rooted in family, community, quality and a commitment to social responsibility. These shared values make our relationship with Cabot and VCPI all the more exciting for us.”
About Agri-Mark/Cabot Creamery Co-operative
About Alpine Summit Capital Partners
Alpine Summit Capital Partners (ASCP) is a private equity firm based in Burlington, VT focused on brand extensions. ASCP acquires brand rights in iconic companies and works alongside management teams to increase brand awareness. Unlike traditional brand licensing techniques, ASCP takes a ground-up approach to brand collaborations. By identifying opportunistic markets, we focus on working with brands that possess the capability to win in our target sectors. With more than 125 years of combined operational experience across multiple business sectors, we work with experienced management teams to leverage our resources to help companies monetize their untapped brand equity. For more information about Alpine Summit Capital Partners, visit www.alpinesummitcapital.com.
Source: WAITSFIELD, VT (April 8, 2021) - Alpine Summit Capital Partners