Alliance Consumer Growth Invests in Frozen-Food Maker Evol
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, co-founders of the Bear Naked Granola brand, 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.
To contact the reporter on this story: Jonathan Keehner in New York at jkeehner@bloomberg.net
To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net
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