Altamont Capital Partners announced an investment into Mini Melts USA, LLC, a brand in premium, beaded, single- and bulk-serve frozen novelty products based in the Philadelphia area.

Altamont is partnering with the CEO and Founder of Mini Melts USA, Dan Kilcoyne, to provide growth capital to support the ongoing expansion of the company's distribution footprint and manufacturing capabilities. Kilcoyne will remain CEO of the business and a major investor alongside Altamont and existing shareholders.

From its humble beginnings two decades ago with a single vending machine, Mini Melts now serves more than 30 million cups per year of its premium frozen novelty products. The company distributes nationally to more than 15,000 locations, including convenience and drug stores, family entertainment centers, zoos, amusement parks, malls, sports venues, and more. 

"Mini Melts has established itself as a leader in frozen novelties. The brand's products are some of the highest selling single-serve products in on-the-go locations today. We believe the beaded ice cream category has expandable growth potential," said Altamont Principal Kabir Mundkur. "Mini Melts brings moments of joy to life with a product that's quite simply delicious. We are excited to invest in the brand and bring Mini Melts into more consumers' hands while fostering new and exciting innovation in the future."

 Mini Melts manufactures in Connecticut using a proprietary cryogenic freezing process and distributes across its network of over 20 distribution centers. The company expects to open numerous new distribution centers in 2024 and continue to expand its fully integrated, white glove distribution model. Mini Melts delivers its frozen novelty products by hand, ensuring customers receive the highest quality product.     

 "The fully integrated white glove distribution model is a real difference maker. It enables an entirely seamless experience for the company's channel partners, and a better-quality product for consumers," said Altamont Managing Director Kevin Mason. "This model is made possible by the world class team supporting the Mini Melts brand, a team that we felt an immediate cultural connection with and that we are honored and thrilled to be partnering with."

"Our partnership with Altamont will bolster our growth plans, allowing us to spread into new markets and grow with new customers," said Mini Melts USA CEO and Founder Dan Kilcoyne. "We have experienced exponential growth over the past several years and are focused on reaching across the entire country and innovating for our valued customers. We are excited to leverage Altamont's experience scaling family-owned businesses and in multi-unit operations, food manufacturing, and distribution to support our next phase of growth."

Capital Southwest Corporation and Main Street Capital Corporation provided financing for the transaction and Ropes & Gray LLP and Morrison & Foerster LLP served as legal advisors to Altamont. Raymond James acted as an exclusive financial advisor and Stradley Ronon served as a legal advisor to Mini Melts USA.