Skky Companions LP, the funding agency led by Kim Kardashian and Jay Sammons, has gotten a style of the personal fairness world now with its first acquisition in Truff, the maker of luxurious condiments infused with the culinary delicacy truffle.
The buyer-focused agency has acquired a big minority stake within the firm, based on an announcement reviewed by Bloomberg Information. Monetary particulars of the acquisition, which is about to shut within the first quarter, weren’t disclosed.
Doing enterprise underneath the Truff moniker, Sauce Ventures LLC manufactures a big selection of premium condiments with truffle at their core. Its merchandise embody mayonnaise, oil, salt, sizzling sauce and pasta sauce, in addition to merchandise similar to hoodies and spatulas.
“We know amazing consumer brands when we see them, and I love that Truff is our first investment,” Kardashian, Skky’s co-founder, mentioned in an announcement to Bloomberg. “Together, we will take Truff to the next level.”
The corporate was based in 2017 by Nick Ajluni and Nick Guillen with a direct-to-consumer focus. The enterprise has since expanded to incorporate main retailers similar to Entire Meals and Target. The model boasts greater than 230,000 followers on Instagram underneath the @sauce deal with.
“Sometimes we say we’re the Dom Perignon of hot sauce,” Guillen joked in an interview. “For us, it was about how could we actually create a product with true integrity that does incorporate a high-end type of ingredient. We looked at saffron, caviar and truffle.”
The founders finally landed on truffle, partially as a result of it hadn’t been completed earlier than, they mentioned. Having grown to reputation by large social moments on platforms like Instagram and TikTok, Truff’s consumer-forward character falls in keeping with the thesis of Skky and shares a key ingredient with Kardashian: viral advertising.
“Nick and Nick have built an incredible brand that quite literally had the magic sauce we’ve been looking for,” Kardashian mentioned. “We are confident we can help them grow their community and get their products into the hands of many more consumers.”
Skky Managing Director David Brisske, who was hired final yr, will be a part of Truff’s board of administrators alongside Mark Ramadan, co-founder and former chief government officer of condiment maker Sir Kensington’s.
