Tuesday, March 4, 2014

Lookout Capital Announces Investment in Wright Foods Of Nearly $8 Million

Deal Is Six Times Larger Than The Previous Largest Lookout Investment

Raleigh, NC – March 4, 2014:
Lookout Capital, a Raleigh, NC-based provider of growth capital and services, announces it has invested nearly $8 million in the Series C preferred stock financing of Aseptia, Inc., the parent company of Wright Foods, Inc., a Troy, NC-based food processing company that utilizes state-of-the-art technology developed at North Carolina State University to package its products.  Wright Foods represents Lookout’s 6th investment since opening its doors in 2011, the firm’s fourth investment in the past 12 months, and is six times larger than the largest prior Lookout placement.

“We are grateful for the opportunity to invest in Wright Foods and look forward to working with the company’s team,” commented Merrette Moore, Founder and Managing Director of Lookout Capital, “We believe the company’s technology and process has revolutionary implications for the food industry.”

Wright Foods has a novel, patented technology enabling the production of shelf-stable food products that maintain the flavors and nutrients of fresh food without the use of preservatives or refrigeration. The process also saves energy, packaging material and distribution costs while maintaining over 12 month shelf life, enhancing food safety, and improving product quality and nutritional value. The company opened its Troy, NC based food manufacturing facility in August 2012. Wright Foods produces a wide range of premium food products including fruit sauces, tomato products, vegetables, soups and beverages.  Several major food companies are customers.

“Our management team and company are excited to have Lookout Capital invest in and partner with us,” said Michael Drozd, CEO of Wright Foods.  “The experience and capabilities of the Lookout team and network will be valuable to us as we grow our business.”

As a part of Lookout Capital's investment, Merrette Moore has joined the Wright Foods Board of Directors.  Sam Drew, Director of Investment Management at Lookout, will participate as a Board Observer.

“We welcome Lookout Capital’s participation on our Board of Directors,” said Sasa Zorovic, Chairman and CFO of Wright Foods.  “Lookout’s investment approach of close collaboration with their portfolio companies will be of significant benefit to our organization.”

Proceeds from the financing will be used primarily to fund Wright Foods’ operations and to allow the company to execute its growth plan.   The company will continue to build out its experienced management team and look to leverage its unique platform in the food processing market.

"Wright Foods has already achieved a number of significant milestones since it’s inception,” observed Merrette Moore, “We are confident that we are investing in the company at a desirable point in its life cycle and feel that Wright Foods will accomplish a great deal in the future.”

About Wright Foods:
Wright Foods’ mission is to provide the best tasting, most nutritious, and highest quality shelf-stable foods for its customers. The Wright Foods team combines extensive experience in food manufacturing, vast technical expertise in aseptic processing, and a deep entrepreneurial spirit with a drive to innovate. As the technology leader in shelf-stable food processing, Wright Foods is capable of creating food products unmatched by any other food producer in the world, customized from concept to plate.

About Lookout Capital:  
Lookout Capital is a Raleigh, NC-based firm that provides growth and services to companies primarily in the Raleigh-Durham area and throughout North Carolina.  The firm addresses a niche historically and currently underserved by the capital markets.  Lookout leverages its high caliber network of investors and advisors as well as its unique investment model in establishing the premier growth capital investment management platform in North Carolina.

For more information on Wright Foods, please visit:

For more information on Lookout Capital, please visit:

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