(Corrects to remove reference to granola venture in second paragraph of a story published Jan. 18.)
Alliance Consumer Growth, the New York-based private-equity firm focused on consumer-products brands, is making a minority investment in frozen-meal maker Evol Foods.
The investment will help Boulder, Colorado-based Evol increase distribution and add menu items, according to a statement today. Founded in 2004 by Phil Anson, Evol counts pizza and burritos among its products. Brendan Synnott and Tom Spier also own part of the company and serve as executives.
ACG declined to disclose the terms of the investment. The firm, co-founded by Trevor Nelson, Julian D. Steinberg and Josh Goldin, raised $40 million for its first fund targeting emerging consumer-product companies in September. The firm has invested in cleaning-product company KAS Direct LLC, which makes BabyGanics and PawGanics, as well as pet-food maker The Honest Kitchen.
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