MELT, a non-dairy buttery spread, is expanding. Its maker, Prosperity Organic Foods, moved April 26 from the downtown Boise’s Belgravia Building to larger quarters in the nearby Garro Building. The company hired five new employees between February and April, to 11 full-time employee positions. Prosperity’s expected revenues of $2.5 million this year are 60 percent higher than last year’s, said President and CEO Meg Carlson.
The company secured $3.5 million from current and new investors last year in its fourth round of funding. Treasure Valley Angel Fund has invested in two rounds of funding, in 2013 and 2014. Meanwhile, Prosperity, which started in 2008 in Hailey, is using a $450,000 Small Business Administration grant to develop new products, including one aimed at reducing childhood obesity that is due to start production this year.
Prosperity’s signature MELT product, a dairy-free butter substitute, is made at ZoRoCo Packaging in Caldwell. MELT entered Whole Foods in 2012 and sales are up 50 percent at that national grocer from a year ago, said Carlson. Carlson, a veteran of the food industry who started her career at Ore-Ida in the 1980s, is now working with Costco to come up with a product size that the chain can work with. She sees growth ahead. “There are many other smaller and natural and organic markets around the country, and we’re only in 25 percent of them,” Carlson said. “It’s time for us to be more present. We’re starting to reach that critical mass of consumers who have discovered MELT and incorporate it into their regular routine. It’s a staple and something you buy every time you go to the grocery store.”