A new investment in health and nutrition has made it onto the books as Kevin’s Natural Foods announced a minority equity investment from TowerBrook Capital Partners, an international investment management firm, and NewRoad Capital Partners. With its new partners, the company plans to expand production capacity, support continued innovation, and introduce the brand to millions of new customers.
“This is a big milestone for Kevin’s,” Kevin McCray, Co-Founder and Chief Operating Officer of Kevin’s stated. “Not only are we expanding our capacity for growth, but we are also augmenting our team with knowledgeable, experienced professionals that share our passion around improving people's lives by making clean eating accessible, easy, and delicious."
Launched in 2019 and based in Modesto, California, Kevin’s Natural Foods is a mission-driven company that develops and manufactures a full line of healthy, refrigerated sous vide meat entrées and vegetable sides alongside a complementary line of sauces and seasonings. According to the release, Kevin’s offers a wide array of recipes and flavors across its product line-up, and all offerings contain no refined sugar or artificial ingredients and are certified paleo, keto, and gluten-free.
The nutrition-forward company’s sous vide preparation process enables customers to cook restaurant quality, healthy meals in minutes, allowing the busiest people to eat clean without sacrificing flavor.
“Kevin’s differentiated product offering has allowed the company to build substantial commercial momentum and consumer loyalty,” said Michael Recht, Managing Director at TowerBrook. “We are looking forward to partnering with Kevin’s dynamic leadership team in the next phase of the company’s growth.”
As of now, Kevin’s products can be found in over 11,000 traditional grocery, natural, specialty, club, and mass stores in addition to direct-to-consumer platforms like Thrive Market and Amazon.
Financial terms of the transaction were not disclosed. The release noted Kevin’s Natural Foods was advised by Wells Fargo Securities and Sheppard, Mullin, Richter & Hampton. TowerBrook was advised by Kirkland & Ellis and NewRoad Capital Partners was advised by Hogan Lovells US.
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