Ancient Harvest, which is backed by Encore Consumer Capital, has acquired Pamela’s, a maker of gluten-free products. No financial terms were disclosed.
SAN FRANCISCO – Encore Consumer Capital (“Encore”), a private equity firm that invests exclusively in leading consumer products companies, is pleased to announce that Ancient Harvest, has completed the acquisition of the Pamela’s brand in a transaction that joins two heritage gluten-free pioneers. The acquisition more than doubles the business under Quinoa Corporation’s management, strengthens its ability to expand its retail footprint, and combines the gluten-free formulation expertise and supplier networks of both brands to facilitate new product development.
The two brands have complementary gluten-free product lines. Ancient Harvest’s portfolio includes quinoa, pasta, hot cereal, polenta and other plant-based protein products made from gluten-free superfoods. Pamela’s offerings range from gluten-free baking mixes and baking ingredients such as pancake mix and paleo flours to pasta meals, ramen, snack bars, cookies and graham crackers.
“I launched Pamela’s Products in 1988 to provide great-tasting gluten-free products for people with special dietary needs. The gluten-free space has exploded over the years, and the company has grown accordingly,” said Pamela Giusto-Sorrells, president and founder of Pamela’s Products, who is stepping away from day-to-day operations. “Joining forces with Ancient Harvest ensures that our commitment to delivering the best tasting gluten-free foods will continue with a company that has the same values and dedication to quality that have put us on the map.”
“The saying that there’s strength in numbers applies directly to this transaction. Marrying two established gluten-free brands will give us more traction with retailers, more critical mass with suppliers, more operational and marketing efficiencies, and more knowhow in working with gluten-free ingredients for product innovation,” said John Becker, CEO of Ancient Harvest. “All of these factors will benefit the growing number of consumers who need or prefer gluten-free options.”
According to Encore Consumer Capital Operating Partner, Steve Mintz, “This represents a transformational acquisition not only for Ancient Harvest, but also for sister Encore company Fantasy Cookie Company which will manufacture a large portion of the Pamela’s products. While always active in the gluten-free baking sector, Pamela’s represents a new level of critical mass in gluten-free manufacturing at Fantasy.”
About Ancient Harvest
Ancient Harvest was the first company to bring quinoa to the United States in 1983, helping establish it as one of the country’s premier superfoods. Today the company’s portfolio spans a wide range of organic, non-GMO, plant-based foods including multiple varieties of quinoa, pasta, mac and cheese, and polenta – all made from gluten-free ‘power’ ingredients ranging from quinoa to beans and lentils. For more information, visit www.ancientharvest.com.
About Encore Consumer Capital
Encore Consumer Capital is a San Francisco-based private equity investment firm focused on the consumer products industry. The firm has raised over $600 million in equity capital and invested in over 30 companies in the sector. Encore’s current and prior investments include branded food and beverage marketers (4505 Meats, Aidells Sausage Company, Brownie Brittle, Cece’s Veggie Co., Full Sail Brewing, KYLA Kombucha, Navitas Organics, Tender Belly, Thanasi Foods), pet products companies (ThunderWorks, Zuke’s), personal care/beauty companies (Supergoop!, MyChelle Dermaceuticals, tarte), food and beverage manufacturing companies (Mesa Foods, Lion Beverages, Murry’s, Van Law Foods), and food distribution companies (Freshko Produce Services, Pint Size Hawaii, Tourtellot), among others. The firm targets companies with between $10 million and $100 million in annual revenues, where Encore’s strong operating expertise in strategy development, brand marketing and distribution expansion can help drive performance.