United Fruit Company, a company that makes fruit pizzas, is launching a $20 million Series A round of funding.
The funding is led by the Carlyle Group, with participation from other investors including AlixPartners and Darden Restaurants.
“We believe that the opportunity to invest in a company with an innovative vision, a strong team and a solid business model will be a key to unlocking more opportunities for our shareholders and the broader industry,” said Alix Partners managing director Brian Cavanagh in a statement.
United Fruit is also working on a new product called Fruit Pie, which it hopes will replace the current apple pie.
In addition, the company is developing an e-commerce platform to help customers find and buy the pies they want, with the goal of eventually bringing all its pies into one place.
United’s founders will remain in place, but will be given new roles, with United CEO Mark Renshaw and co-founder Adam Einhorn joining the team.
The company is also developing its own technology that can track customer activity and track the delivery of products.
The first fruit pies were invented by Adam and his wife Michelle in 2015.