Momofuku Goods, a US-based supplier of noodles and sauces, has secured $11.5m in funding to accelerate its nationwide distribution.
Leading the funding round is Alliance Consumer Growth (ACG), a consumer-focused equity firm, along with existing investor Siddhi Capital.
ACG’s co-founder, Josh Goldin, acknowledges the growing appeal of Momofuku’s products among grocery consumers.
Goldin states, “Momofuku Goods is a highly promising emerging brand in the food industry. We consider Momofuku to be the most genuine and trusted brand in its sector, thanks to the culinary expertise of its founder, David Chang, and its cult-favorite restaurants.”
Momofuku Goods originated as a spin-off from the renowned restaurant chain Momofuku in 2020. The company’s diverse product range includes noodles, soy sauce, rice vinegar, and seasoned salts.
The brand’s products are currently available at over 3,500 stores nationwide, including major retailers such as Target, Whole Foods, and Wegmans. Additionally, Momofuku Goods operates through direct-to-consumer sales channels.
Marguerite Zabar Mariscal, CEO of Momofuku Goods and Momofuku, expresses excitement about ACG’s investment, stating, “Alliance Consumer Growth has an impressive track record of supporting consumer brands that have achieved iconic status. We are delighted that they recognize the same potential in Momofuku Goods.”
In 2019, US food giant Kraft Heinz offered support to Momofuku’s parent company when it introduced its signature Sesam Sauce through e-commerce platform Amazon. The collaboration took place under Kraft Heinz’s Springboard Brands incubator unit, which aims to nurture and accelerate the growth of disruptive food and beverage brands in the United States.
Alliance Consumer Growth, established in 2011, has diverse investments spanning the food, beverage, beauty, personal care, pet products, apparel, and accessories sectors.
