{"id":10275,"date":"2020-07-22T21:10:59","date_gmt":"2020-07-23T02:10:59","guid":{"rendered":"https:\/\/unitedresourceconnection.org\/cannon-ball-nd-58528\/tanka-bars-closes-multi-million-dollar-deal\/"},"modified":"2020-07-22T21:10:59","modified_gmt":"2020-07-23T02:10:59","slug":"tanka-bars-closes-multi-million-dollar-deal","status":"publish","type":"post","link":"https:\/\/unitedresourceconnection.org\/cannon-ball-nd-58528\/tanka-bars-closes-multi-million-dollar-deal\/","title":{"rendered":"Tanka Bars closes multi-million-dollar deal"},"content":{"rendered":"
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CEO Dawn Sherman and former CEO Karlene Hunter (left front): Native American Natural Foods team members announce injection of risk capital to \u201cbring bison back to land, lives, and economy of Native American people.\u201d Photo Courtesy: Erika Larsen<\/strong><\/p>\n<\/div>\n

KYLE \u2013 Pine Ridge Indian Reservation-based Native American Natural Foods, the maker of Tanka Bars and Tanka Bites, announced July 16 that it has closed a multi-million-dollar deal with a couple of investment groups that will help it reclaim its national market position.<\/p>\n

When Native American Natural Foods introduced the world to its bison-and-berry snack food, a modern version of a centuries-old uniquely American Indian recipe, the novelty represented a vision of social entrepreneurship promoting a native business model, returning buffalo to its habitat, reservation employment, and healthy eating.<\/p>\n

Seeing the products\u2019 initial popularity nationwide, rival startup companies soon injected copycat goods into the distribution chain, and with no such strings attached to community development in their corporate portfolios, easily secured major name-brand buyouts cornering part of what had been Tanka\u2019s shelf space.<\/p>\n

For the past two years Native American Natural Foods has been struggling to regain its place in the retail competition \u2014 without sacrificing its mission, President and CEO Dawn Sherman told the Native Sun News Today.<\/p>\n

Finding investors willing to support continued Native American majority shareholder ownership with community resilience goals was the main challenge, she said.<\/p>\n

\u201cYou usually have to give up part of that,\u201d she said. But in this case, \u201cI welcome our investors, who have the courage and innovation to break the economic isolation of the reservation and move with us into a new economic future.\u201d<\/p>\n

The Candide Group, which promotes principled investing with social values, went to bat for Native American Natural Foods, structuring a formula that attracted investors willing to take on the equity capital responsibility of the business.<\/p>\n

The group specializes in financial activism to benefit causes of underserved Black, indigenous, people of color (BIPOC), and others with minority status, who historically are survivors of discrimination. It \u201cdirects capital away from an extractive global economy towards investments dedicated to social justice and sustainability,\u201d it says.<\/p>\n

Founding Partner Aner Ben-Ami said Native American Natural Foods \u201chas all the ingredients needed to be successful: superior products with a loyal customer base, and a community of employees, suppliers and partners for whom failure is simply not an option.\u201d<\/p>\n

Chief among the new investors Candide fetched is the donor-advised Libra Social Investment Fund, consisting of an eight-women team in San Francisco. Their Libra Foundation makes direct investments in businesses and social enterprises that are mission driven.<\/p>\n

With Libra\u2019s support, the Candide Group is excited to \u201chelp the company realize its potential while supporting its mission of creating wealth and ownership for native communities and ranchers, and building a native-led brand committed to traditional values and regenerative agriculture,\u201d Ben-Ami said.<\/p>\n

Another donor-advised fund at California\u2019s Highlands Associates was \u201cproud to partner with Native American Natural Foods and looks forward to the future growth and success of this company!\u201d said Ann Whittemore, Highlands Associates\u2019 Director of Impact Investments.<\/p>\n

A socially responsible investment firm, Highlands Associates specializes in supporting \u201clocal regenerative economy \u2014 sustainable food, farming and forestry, and renewable energy,\u201d particularly in small towns and native communities, according to its mission statement.<\/p>\n

\u201cNative American Natural Foods is one of those quintessential companies whose success benefits the larger community,\u201d Whittemore said. She counted its \u201ccommitments to native ownership, to the land and restoration of traditional bison, to healthy foods and sustainable practices, as well as to their native cultural values,\u201d as qualities that make it \u201can important leader in a resilient, regenerative economy.\u201d<\/p>\n

These investors join Clearinghouse Community Development Financial Institution (Clearinghouse CDFI), in backing Native American Natural Foods. Recognizing the Tanka maker as \u201cone of only a few non-gaming companies to succeed on an Indian Reservation,\u201d the financiers have been helping keep the small business afloat since 2011 with loans and grants.<\/p>\n

Clearinghouse CDFI has provided money from the major banks that are its shareholders to sustain Native American Natural Foods\u2019 growth and reservation employment. President and CEO Douglas Bystry said, \u201cBeing involved with Native American Natural Foods has been a privilege and a humbling honor.\u201d<\/p>\n

Clearinghouse CDFI\u2019s mission is to \u201cbridge the gap between conventional lending standards and the needs of low-income, distressed, and communities of color.\u201d Bystry lauded \u201cthe founders, leaders and partners of Native American Natural Foods\u201d for having \u201cblended a proud and resilient heritage with a disciplined business culture that is intentional about achieving sustainable profits and mission goals.\u201d<\/p>\n

He noted, \u201cWealth building in Indian country is far reaching and we want to be there with Native American Natural Foods each step of the way,\u201d adding, \u201cWe are proud to be part of a group of committed lenders, investors, partners, suppliers and customers who have come together because of (its) people, purpose and, of course, its awesome products.\u201d<\/p>\n

Those products, which retail for under $5, have evolved to include three flavors: Slow Smoked Original, Spicy Pepper, and Apple Orange Peel. The recipe is based on a traditional Lakota dish called wasna, a dried pounded meat and chokecherry patty.<\/p>\n

Today\u2019s version is made with wild grass prairie-fed bison, like its predecessor, then paired with cranberries and Native American grown wild rice. It has seven grams of protein, is minimally processed, and has no nitrites or nitrates, antibiotics or added hormones. It is free of gluten, MSG, nuts, Tran\u2019s fats, soy and lactose, and rich in Omega-3 fatty acids.<\/p>\n

The investment announcement is the second this year in Native American Natural Foods\u2019 strategic partnering campaign. Earlier the reservation business obtained operating, marketing, communication, technical and financial support from Niman Ranch, the leading U.S. brand in the market for humanely and sustainably raised meat, which fosters more than 750 independent farmers and ranchers.<\/p>\n

Niman Ranch, an arm of Perdue Premium Meat, is working to help build a Tanka Regenerative Agriculture Coop (TRAC) for tribal members to receive guaranteed meat sales contracts with both Native American Natural Foods and itself.<\/p>\n

Niman Ranch General Manager Chris Oliviero said the new deal, boosting \u201cthe financial independence of the native owned and operated Tanka, goes to the heart of our mission to support sustainable agriculture and resilient rural communities.\u201d<\/p>\n

The deal is also good news for Rocky Mountain Natural Meats, which supplies much of the bison processed in Tanka snacks. \u201cCongratulations to the team at Native American Natural Foods. This has been a long time coming,\u201d said CEO Bob Dineen.<\/p>\n

He said it should help \u201cintroduce Tanka to more consumers nationwide.\u201d To \u201cbe tanka\u201d means to \u201clive life powerfully, in harmony with your spirit and with the earth,\u201d product labeling states.<\/p>\n

Mark Tilsen Sr., Native American Natural Foods co-founder (with former President and CEO Karlene Hunter), said they created their business and product in 2006 with a vision of \u201ca reservation-based brand capable of helping to build a new economic future for the Lakota people. This new structure with our investors and partners will help make this shared vision a reality,\u201d he said.<\/p>\n

Sherman, who took the reins from Hunter in 2019, recognized that theirs is one of the scant enterprises that has survived long enough to have a second generation Native American woman as president and CEO. \u201cWe celebrate the vision that will return the bison to the lands, lives and economies of native communities,\u201d she said.<\/p>\n

Their goal is to return 1 million acres of native lands to buffalo, to promote prosperity and wellness in reservation communities.<\/p>\n

\u00a0<\/p>\n

(Contact Talli Nauman at talli.nauman@gmail.com<\/a>)<\/p>\n

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CEO Dawn Sherman and former CEO Karlene Hunter (left front): Native American Natural Foods team members announce injection of risk capital to \u201cbring bison back to land, lives, and economy of Native American people.\u201d Photo Courtesy: Erika Larsen KYLE \u2013 Pine Ridge Indian Reservation-based Native American Natural Foods, the maker <\/p>\n

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Shared by Native Sun News Today<\/a> July 22, 2020<\/p>\n

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