Gladstone Capital Corporation (NASDAQ:GLAD) (“Gladstone Capital”) announced that it has completed a debt investment in support of Enlightened Hospitality Investments and KarpReilly, LLC’s investment in Salt & Straw, LLC (“Salt & Straw” or the “Company”). Gladstone Capital’s funding will help the Company add locations across the U.S. and continue the strong growth trajectory of its delivery and e-commerce businesses.
Based in Portland, Oregon, Salt & Straw was founded by cousins Kim and Tyler Malek in 2011. Originally serving ice cream from a push cart, Salt & Straw is best known for its curiously delicious flavors, exceptional hospitality and locally-sourced ingredients that connect fans to food narratives and provide ongoing taste adventures. With a mission to create a warm, welcoming neighborhood destination, Salt & Straw invites visitors to explore unbelievable ice cream and connect with one another.
Laura Gladstone, Managing Director of Gladstone Capital, said, “We are excited to partner with Salt & Straw and their excellent management team who have put their heart and soul into building an amazing ice cream brand that supports each local community. We know that they will be successful continuing their exciting growth across the U.S.”
“Kim, Tyler and their team at Salt & Straw epitomize the power of harnessing passion and purpose; their ice cream not only unlocks rare, fleeting experiences, but tells stories and brings together local community stakeholders. We are thrilled to have provided to Salt & Straw a tailored capital solution to propel the growth of their omni-channel strategy,” stated Ray Logan, Director of Gladstone Capital.
“We are excited to partner with Gladstone and continue investing in our team members and existing infrastructure, while opening new shops when the right opportunities arise,” said Kim Malek, President and CEO of Salt & Straw. “We are honored to share our ice cream more broadly and look forward to making connections in more communities in the near future.”
