Alliance Consumer Growth Fund, which has become a well-known quantity on the beverage circuit because of its constant hunt for rapidly-growing, well-defined consumer brands, has raised a second fund of $90 million — double the amount of its original, $44 million ACG Fund I.
The company, started by Josh Goldin, Julian Steinberg and Trevor Nelson, recently invested in juice brand Suja as the final act of its first fund. ACG Fund II will have the same strategy of investing minority “growth equity” into brands that are connecting with consumers, its founders say. ACG Fund II invested in barkTHINS, a brand of “snacking chocolates,” as its first placement earlier this year.
Full release is below:
Alliance Consumer Growth Announces Successful Completion of ACG Fund II
New $90 Million Fund to Invest Behind Proven ACG Formula Focusing on the Most Promising Young Consumer and Retail Brands
NEW YORK, NY, April 10, 2014. Alliance Consumer Growth (“ACG”), a private equity firm that specializes in investing in the most promising emerging consumer products, retail and restaurant brands, today announced the first and final closing of Alliance Consumer Growth Fund II, L.P., with total capital commitments of $90 million. ACG Fund II, which was oversubscribed, and raised in two months, received strong support from existing limited partners as well as new investors.
Founded in 2011 by Josh Goldin, Julian Steinberg and Trevor Nelson, ACG specializes in providing minority growth capital, and value-added industry expertise, to promising, high-growth consumer, retail and restaurant companies. ACG typically makes investments of up to $10 million of growth equity per company, into rapidly-growing brands with at least $5 to $25 million of annual sales. ACG’s debut fund, Alliance Consumer Growth Fund, L.P., invested in “rising star” brands including Babyganics, The Honest Kitchen, Kriser’s Pets, KRAVE Jerky, Shake Shack, Suja Juice and EVOL Foods (acquired by Boulder Brands).
ACG Fund II–which will invest behind the same strategy successfully deployed in ACG Fund I–has already completed its first investment, a growth equity investment in emerging snack food brand barkTHINS.
“We are truly honored to have earned the trust and support of the consumer-retail entrepreneur and investor communities” said ACG co-founder Josh Goldin. “We look forward to continuing to help fuel and grow tomorrow’s iconic consumer, retail and restaurant brands, and to delivering strong returns to our limited partners.”
ACG’s legal advisor was Kramer Levin Naftalis & Frankel; and no fund placement agent was used. ACG’s debut fund, Alliance Consumer Growth Fund, L.P., was launched in 2011 with total capital commitments of $44 million.
About Alliance Consumer Growth
Alliance Consumer Growth (“ACG”) is a private equity firm which provides growth capital and value-added partnership to the most promising young consumer, retail and restaurant brands. Current investments include Babyganics, The Honest Kitchen, Kriser’s Pets, KRAVE Jerky, Shake Shack, Suja Juice and barkTHINS. Prior investments include EVOL Foods (acquired by Boulder Brands) and Plum Organics (acquired by Campbell Soup Co.) www.acginvestors.com