VMG Partners to invest in Bare Snacks

bare apple2

VMG Partners, which sold part of its stake in KIND Inc earlier this year, is investing in Bare Snacks, two sources said.

It is unclear how much VMG is investing. San Francisco-based Bare provides snacks marketed as healthy, such as Sea Salt Caramel Apple Chips and Show Me The Honey Coconut Chips, that are sold in stores such as Whole Foods, Safeway and online at Amazon.com. In July 2013, Bare Snacks closed a $9.25 million financing round led by NGEN Partners. Avrio Capital and Silas Capital co-invested.

With offices in San Francisco and Los Angeles, VMG is a mid-market PE firm that invests in consumer products companies. The firm owns stakes in Kernel Season’s, Justin’s nut butter spreads, and Babyganics. VMG sold Mighty Leaf Tea in August to Peet’s Coffee & Tea. This year, VMG also sold a portion of its holding in KIND, the snack bar maker, back to founder Daniel Lubetsky, a KIND executive said. KIND is still listed as a current holding on VMG’s website.

VMG is investing out of its second fund. VMG Partners II closed at $375 million in 2011. Performance data was unavailable for Fund II. VMG is not expected to fundraise for its third pool until next year, a placement agent said.

Executives at VMG, Bare Snacks, NGEN, Avrio and Silas did not respond to requests for comment.

Photo courtesy of Bare Snacks

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