Sunrise Strategic Partners announced yesterday that it had acquired a minority ownership stake in Kill Cliff. The terms of the deal were not disclosed, but according to Sunrise’s website they target companies that generate revenue between $10-20 million. Prior to the deal, however, Kill Cliff was looking to raise $10 million.
Kill Cliff, which was founded in 2011, is very popular among CrossFitters and is one of two major players in the (CrossFit) post-workout recovery drink industry. The deal will allow Kill Cliff to focus on making a push into the markets outside of CrossFit.
Kill Cliff was starting that process as it just recently made it onto the shelves of Whole Foods stores in the South and Rocky Mountains regions and is working to expand into other Whole Foods regions. Kill Cliff has also recently expanded into gyms outside of CrossFit including Gold’s Gyms, Powerhouse Fitness and Lifetime Fitness.
Sunrise invests in companies that provide healthy and sustainable foods. Sunrise started in 2016 and has invested in brands such as Vital Farms, Kodiac Cakes and Maple Hill Creamery.