Questa-based snack company nets $350K investment
ALBUQUERQUE, N.M. — A new $350,000 investment could help two northern New Mexico “ski bums” feed a lot more outdoor enthusiasts with tasty, healthy snacks made by their Questa-based company Taos Bakes.
The New Mexico Angels contributed $220,000 in late April to help close out a new capital raise that existing investors began last fall to reach a $350,000 target, said Tim Wegener of Carouth Capital Partners, a Texas-based private equity firm that previously invested about $4 million in Taos Bakes. The new investment will help the firm expand its line of products and ramp up marketing efforts to broaden its consumer base.
Taos Bakes, which co-founders Kyle Hawari and Brooks Thostenson launched in 2014, has grown “exponentially” in recent years, more than tripling its sales from about $1 million in 2018 to a projected $3.5 million this year, said Wegener, who serves on the board.
“They have some great products that have become pretty popular,” Wegener told the Journal. “The co-founders are both from Dallas. They finished college and they love to ski, but they learned there are no good choices on the market to ski and eat energy bars outdoors, so they started making their own.”