The Belgian Boys raise $7 million


NEW YORK — Belgian Boys, a woman-owned European candy brand, raised $7 million in its first funding round, led by Equilibra Ventures with participation from angel investors.

Founded by Belgian-born wife and husband duo Anouck Gotlib and Greg Galel, Belgian Boys offers stroopwafels, cookies and desserts as well as breakfast items like pancakes, waffles and crepes. The company takes an unconventional approach to merchandising, choosing to sell its frozen breakfasts and desserts in the chilled fresh section.

“Even though breakfast is part of our daily routines, Americans have been conditioned to stock up on frozen breakfast items that you’ll typically find refrigerated in Belgium,” Ms. Gotlib said. “People love eggs, bacon and sausage for breakfast, so why would you go through the store to find complementary items? We’re excited to see success bring that same placement to the United States.

Already available at major retailers like Walmart and Target, Belgian Boys products offer a mess-free way for an elevated home dining experience, she said. Last month, the company added brioche French toast to its breakfast lineup.

“If you think of French toast, there’s milk everywhere and eggs everywhere and this huge mess in your kitchen,” Ms Gotlib said. “We are changing that by bringing convenience to the customer.”

Belgian Boys plans to use the partnership with Equilibra to become a global brand. Created in 2018 by Daniel Lubetzky, the founder of Kind Snacks, the platform incubates, operates and invests in entrepreneur-led businesses. Belgian Boys will draw on the team’s experience in creating and growing cult CPG brands to continue down the path of innovation “outside the aisle”, said Elle Lanning, Managing Director of ‘Equilibra Ventures.

This partnership marks Equilibra’s fifth investment in a business founded, owned or operated by a woman, with Belgian Boys joining Yellow Leaf Hammocks, FitFighter, Tandm Surf and Before Brands Spoonful One. Other agribusinesses in Equilibra’s portfolio include Greek yogurt Ellenos, meat snack maker Krave, seaweed snack maker gimMe Snacks, insect protein brand Chapul and Quevos, a potato crisp maker. egg white protein.

“We were more attracted to the passionate and innovative leaders of the Belgian Boys,” Ms Lanning said. “Instead of adhering to proven playbooks, Belgian Boys write their own rules and change the whole game.”


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