US bakery Firebrand adopted a steward-ownership structure to reshape local economics, emphasize shared wealth and community impact, with focus on their financing rounds and setup.
Founded
2008
Employees
63 (2022)
Location
Oakland, CA
Sales
$ 5.3 million (2022)
Steward-owned since
2020
All Resources
Matt Kreutz founded Firebrand 12 years ago in a West Oakland warehouse with the vision to produce highquality baked goods. Since then, the fi rewood bakery turned into a successful business with an inspiring mission. Centering its employment on the formerly incarcerated and the formerly houseless, Firebrand seeks to break the cycle of recidivism. Today, Firebrand is more than just a bakery, it's a community institution providing employees access to job training and opportunities to build money management skills.
“Firebrand seeks to stand at the center of a new wave of capitalism that leverages business to address complex societal problems,” explains Matt. “We believe through business we can create shared value for employees and the community.”
To guard this mission in the future and secure aligned investors, Matt transitioned Firebrand to stewardownership in 2020. Implementing the new ownership structure went hand-in-hand with securing missionaligned growth capital that will enable the business to grow sustainably, drive social impact, and maintain its independence. Purpose US supported Firebrand in developing its new Purpose Trust structure and in crafting a unique, inclusive growth capital raise. Firebrand successfully closed a $2.5 million raise, colead by Candide and Fund Good Jobs, and supported by Ron McFall and the Mission-Driven Partners at Stoel Rives.
