PHOENIX — Oats Overnight, the Phoenix manufacturer of grab-and-go breakfast meals, has secured a $45 million investment from Asto Consumer Partners, a growth equity firm based in Austin, Texas.
The investment comes from a secondary offering, involving the purchase of the stake held by an early-stage investor. The investment was led by Asto Consumer Partners Managing Partner Clayton Christopher. The consumer packaged goods investor has invested in Austin companies such as Sweet Leaf Tea, Deep Eddy Vodka and Waterloo Sparkling Water — which were subsequently acquired by Nestlé, Heaven Hill Distilleries and Flexis Capital, respectively.
Oats Overnight CEO Brian Tate told the Business Journal that this investment helps the company continue to build upon its existing growth trajectory.
