TowerBrook Capital Partners and NewRoad Capital Partners have made a minority investment in Kevin’s Natural Foods, a Modesto, California-based maker of healthy entrées, sides, sauces and seasoning blends. No financial terms were disclosed.
MODESTO, CA – September 3, 2021 – Kevin’s Natural Foods (“Kevin’s” or “the Company”) today announced a minority equity investment from TowerBrook Capital Partners L.P. (“TowerBrook”), 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. Financial terms of the transaction were not disclosed.
Launched in 2019 and based in Modesto, CA, 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, and a complementary line of sauces and seasonings. 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 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 McCray, Co-Founder and COO of Kevin’s stated, “This is a big milestone for Kevin’s. 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.”
“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.”
Kevin’s products can be found in over 11,000 traditional grocery, natural, specialty, club and mass stores, as well as direct-to-consumer platforms like Thrive Market and Amazon. Kevin’s is a category-leader in the home meal replacement set and offers a healthy, delicious and better-for-you alternative to traditional incumbent brands.
Kevin’s was advised by Wells Fargo Securities, LLC and Sheppard, Mullin, Richter & Hampton LLP. TowerBrook was advised by Kirkland & Ellis LLP. NewRoad Capital Partners was advised by Hogan Lovells US LLP.
About Kevin’s Natural Foods
Kevin’s Natural Foods is a line of healthy entrées, sides, sauces and seasoning blends, on a mission to make clean eating delicious and accessible. Co-founded by Kevin McCray, who battled a severe auto-immune disorder for years and cured his condition through clean eating, Kevin’s Natural Foods was born from his desire to help other people eat well. Kevin’s guilt-free, sous-vide entrées and sides, and signature certified paleo, keto, and gluten-free sauces allow health-conscious home cooks to whip up delicious meals in five minutes or less.
With restaurant-quality ingredients and recipes, Kevin’s products are readily available on the shelves at leading grocery retailers nationwide. All Kevin’s products contain no refined sugar, artificial ingredients, grains, or soy, and are made with antibiotic- and hormone-free meat. A true market disruptor, Kevin’s Natural Foods is the first clean refrigerated entrée brand. For more information, please visit www.kevinsnaturalfoods.com.
About TowerBrook Capital Partners
TowerBrook Capital Partners is a purpose-driven investment management firm headquartered in New York and London. The firm has raised in excess of $17.4 billion to date and invests in private equity and structured opportunities through its family of funds. As a disciplined investor with a commitment to fundamental value, the firm seeks to deliver superior, risk-adjusted returns to investors on a consistent and responsible basis. TowerBrook’s value creation strategy aims to transform the capabilities and prospects of the businesses in which it invests. TowerBrook is the first mainstream private equity firm to be certified as a B Corporation. B Corporation certification is administered by the non-profit B Lab organization and is awarded to companies that demonstrate leadership in their commitment to environmental, social and governance (ESG) standards and responsible business practices. For more information, please visit www.towerbrook.com.
About NewRoad Capital Partners
NewRoad Capital Partners, LLC, is a growth equity capital firm based in Rogers, AR, that invests in proven and innovative technologies, products and services that serve existing, unmet needs in the marketplace. Founded on the core values of the entrepreneurial spirit, purpose and humility, NewRoad focuses on investing in and acquiring demand-driven businesses in the Retail and CPG and Business Services industries with an emphasis on Supply Chain and Logistics. For more information, please visit www.newroadcp.com.