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Food
Products, Inc. ("Fujisan"), one of the nation's largest
manufacturers and distributors of pre-packaged Sushi, announced
recently that it has raised $5.8 million in venture capital to
double its presence and distribution infrastructure by the end
of 2007. The investment infusion came from Funk Ventures Capital
Partners ("FVCP"), the venture capital division of
entrepreneurial and socially conscious investment firm Funk
Ventures, based in Santa Monica, CA.
The
market for pre-packaged sushi has exploded as millions of
Americans seek a healthy and convenient alternative to fast
food. “Sushi has become a must-have item at the retail level. It
is no longer a luxury item served only in restaurants,” says
Andy Funk, Managing Director of FVCP and sushi enthusiast.
“Fujisan is solving a tremendous problem by enabling retailers
to sell fresh sushi in each of their stores without having to
work with multiple vendors.”
Fujisan sushi is currently available in 37 states through more
than 2,500 retail outlets and club stores, including Safeway,
Costco, Albertsons, Vons, Ralphs, Kroger, SuperTarget and BJs,
among others. Consumers have embraced the great taste and
diverse product offering, while retailers have embraced the
company's multi-tier distribution system that offers in-store
sushi chefs, direct store delivery and warehouse delivery
programs.
With
a large and growing backlog of retailers demanding service, the
company will use the investment to satisfy demand and execute
its nationwide growth plan.
“With this capital infusion, Fujisan will be able to
significantly improve its manufacturing and distribution
infrastructure,” says Kenny Sung, Fujisan's CEO, who has grown
revenues more than 1000% since joining the company. “By the
beginning of 2008, we will have the ability to service every key
metropolitan market in the United States.”
Fuji
Food Products, Inc. has been the leading pioneer in delivering
freshly made sushi and other Asian entrees to supermarkets and
club stores since 1990. Today, Fuji Food Products, Inc. is the
largest one stop multi-tier sushi supplier in the United States,
serving more than 2500 retail outlets in 37 states. The company
continues to invest heavily in research and development to
diversify its product offering, reach a wider consumer base and
introduce unique wellness offerings to the healthy food
category.
For
more information, please visit
www.fujifood.com |