Riveter Capital has acquired Healthy Lunch Box, a food service provider. No financial terms were disclosed.
NEW YORK–(BUSINESS WIRE)–Riveter Capital, a private equity firm focused on investing in women- and minority-led companies, announced today that it completed the acquisition of Healthy Lunch Box, Inc., a food service provider of high-quality, nutritious meals to children and adults.
Based in Texas and founded in 1996 by Theresa Barajas, Healthy Lunch Box provides cafeteria-style meals to charter schools, private schools, Head Start programs, health clinics, and adult-care centers. The company uses simple, traditional cooking methods to prepare nutritious menu items from scratch and operates out of its licensed commercial kitchen in north Houston.
“The Healthy Lunch Box team is very excited to partner with Riveter Capital for this next chapter in the company’s history,” said Founder Theresa Barajas. “Healthy Lunch Box has established itself as a trusted partner to schools and other organizations for serving nutritious meals and snacks, and we look forward to leveraging Riveter’s resources and deep experience in the industry to further grow the company in the years to come. Throughout my career, I have been passionate about empowering and supporting other women, and Riveter’s mission and thesis truly resonated with me and differentiated them.”
Nakita Johnson will be joining the company as president and brings decades of school business experience, child nutrition knowledge, and extensive industry insight and relationships. Commenting on the opportunity, she said, “I am thrilled to be joining the Healthy Lunch Box and Riveter Capital teams. Having spent the last several years on the customer side of the business, I understand what Healthy Lunch Box’s customers want and need. The company has the foundation for providing excellent quality meals and I am focused on building upon that reputation.”
Charter schools, the company’s largest client base, have grown in popularity amid the pandemic; in particular, Texas charter school enrollment was up nearly ~9% for 2020-21 from the previous academic year. Healthy Lunch Box provides meals under several mandates including the National School Lunch Program (NSLP), one of the most important and successful nutrition programs in the country. During Covid-19, a time when millions of families faced financial strain and hunger, the USDA extended waivers to allow reimbursed school and childcare center meals to all students regardless of their income. Healthy Lunch Box is prepared to service the increased demand and continue supporting underserved communities to address food insecurity issues.
“Healthy Lunch Box has an impressive history and strong reputation as a key player in school catering in Texas. Being Riveter’s first investment, we are excited to honor the legacy of Theresa and continue to drive growth at the company alongside Nakita and the rest of the Healthy Lunch Box team,” said Riveter Partner Colleen Gurda.
About Riveter Capital
Riveter Capital is a private equity firm focused on investing in lower middle-market women- and minority-owned or operated businesses that we understand as both investors and consumers. We empower founders by providing hands-on strategic, financial, and operational support to help take companies to the next level. With a flexible investing mandate, we provide capital for acquisitions, management buyouts, recapitalizations, growth, and expansion. For more information about Riveter Capital visit www.rivetercapital.com.