MAS is Better, Maspanadas Triples Manufacturing Facility
Margarita Womack, Founder and CEO of Maspanadas, was featured in the Washington Business Journal as they gear up to triple their manufacturing space in Rockville. Maspanadas recently closed a $1.5 million dollars seed funding round backed by Angeles Investors and Union Kitchen at a $15m valuation.
Maspanadas started out as a catering company before joining the Union Kitchen Accelerator in 2017. By strategically utilizing the Union Kitchen ecosystem, making products people want, and owning their manufacturing, Maspanadas has emerged as a dominant player in the industry, currently valued at $15 million.
The rapidly expanding company is now awaiting permits to begin building out their new 6,000-square-foot facility. Margarita stated that once completed, they aim to triple production, increasing from five tons to 15 tons produced per week.
"The increased production will include both private-label empanadas that it makes for such retailers as MOM’s Organic Market, Streets Market & Cafe and Whole Foods Market and sells under the stores' brands, and its own Maspanadas-labeled products. Up to now, the company has been mostly focused on private-label sales, said Womack, but plans to deploy cash from the new funding round to get its branded frozen empanadas on more store shelves. The goal, she added, is to increase annual revenue from roughly $6 million to $10 million," reports the Washington Business Journal.
The expansion of their manufacturing facility is an exciting milestone moment for Margarita and Maspanadas. Their growth has just begun and soon their delicious empanadas will be on more shelves and in the hands of more customers.
"It is one of a number of startups to successfully emerge from retail and food business incubator Union Kitchen, with others including Compass Coffee, Snacklins and Swapples," write the Washington Business Journal. "Its latest fund was oversubscribed by around $25,000 — a swell of support for which Womack is grateful as the company navigates its next phase of growth."
Check out the article for more on the amazing Margarita!