ANAHEIM, CA — (MARKET WIRE) February 15, 2007 — Fuji Food Products Inc. (“Fujisan”), one of the nation’s largest manufacturers and distributors of pre-packaged Sushi, announced today 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, visit www.fujifood.com or call (877) 398-3854.
About Funk Ventures
Funk Ventures is a multi-faceted, entrepreneurial and socially-conscious investment firm with a focus on venture capital, business acceleration and real estate. Supported by an experienced and passionate team, the firm’s philosophy is grounded in the belief that businesses can make a significant and positive contribution to people, society and the environment. The firm’s venture capital arm makes value-added investments in promising companies in the health & wellness, medical technologies and clean tech markets. Funk Ventures also runs a business accelerator, providing resources, expertise and management to growing companies that are still too young to receive venture financing. For more information, visit www.funkventures.com or call (310) 395-5703. Funk Ventures is a registered trademark of Funk Ventures, Inc.