Trive Capital has made an investment in Edison, New Jersey-based NutriFresh, a cold chain logistics partner for e-commerce driven food and beverage brands. No financial terms were disclosed. TM Capital was financial advisor to the shareholders of NutriFresh Services.
MARCH 10, 2021
EDISON, New Jersey & DALLAS, Texas
Trive Capital (“Trive”), the Dallas-based private equity firm, is excited to announce its recent partnership with NutriFresh Services (“NutriFresh” or the “Company”). Founded in 2014 and headquartered in Edison, New Jersey, the Company is a leading cold chain logistics partner for e-commerce driven direct-to-consumer food and beverage brands. NutriFresh provides high quality, turnkey solutions out of multiple locations strategically positioned around the country. NutriFresh’s portfolio of services includes frozen and cold storage, kit assembly, and parcel shipping optimization and coordination. As part of the transaction, Trive provided a structured capital solution to support the management team in fueling the high pace growth the Company has experienced over the past several years.
“NutriFresh’s high quality service and national, perishable turnkey capabilities have enabled us to become a growth catalyst partner to our customers,” said Guy Ironi, CEO of NutriFresh. “The management team and shareholders of NutriFresh look forward to continuing our mission, building an even better and more robust, best-in-class, national platform with a partner that can provide additional resources and capital. Trive’s collaborative approach and deep operational experience will undoubtedly help us accelerate our expansion, continue developing cutting edge technology, and better support our customers on a national level.”
“We believe management has built a truly differentiated and best-in-class offering at NutriFresh – one we are looking forward to help grow with additional resources in the coming years. We are excited to invest alongside the existing shareholders and to support the Company and its customer base through this critical growth phase with both organic and inorganic growth on the horizon,” said Chris Zugaro, Partner at Trive.
Shravan Thadani, Managing Director at Trive, added, “It is a dynamic time in the F&B and logistics sectors as consumer preferences increasingly shift towards direct-to-consumer brands and e-commerce. NutriFresh’s service-first approach to logistics and innovation, coupled with management’s commitment to its customers and employees, provides the right framework to capitalize on this growing customer demand. Trive looks forward to providing capital and operational support to enable the Company to accelerate growth and build scale alongside its management team.”
The transaction represents Trive’s most recent investment within its Structured Capital Strategy, where the firm can tailor bespoke debt and equity structures for strategically viable, middle market companies.
TM Capital, a full-service investment bank, acted as the exclusive financial advisor to the shareholders of NutriFresh Services.
Headquartered in Edison, NJ, NutriFresh Services is a leading cold chain logistics partner for e-commerce driven food and beverage brands, with a national footprint. The Company provides fulfillment services – including frozen and cold storage, kit assembly, and parcel shipping optimization and coordination – for direct-to-consumer oriented brands. NutriFresh has a national network of partners across the country providing vast and efficient geographic reach and speed of delivery to customers. The Company also provides high pressure processing (HPP) services to the market, a non-thermal process which extends shelf life and reduces waste for packaged food manufacturers.
Trive Capital is a Dallas, Texas based private equity firm managing approximately $2 billion in aggregate capital commitments. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.