Area meat stick company picks up $80M investment

NAPLES — Natural meat snack brand Chomps has received an $80 million minority investment from a Boston-area private equity firm.

The investment is the first outside private equity capital Naples-based Chomps has raised since it was founded in 2012. Stride’s involvement will help Chomps to accelerate innovation, brand building and distribution, according to a statement. The investment — first reported by Bloomberg News and later confirmed to the Business Observer by co-founder and CEO Peter Maldonado — values the firm at between $200 million and $300 million. The company has more than $100 million in retail revenue, up at least 185% from 2019, when it had $34.58 million.