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 flavours 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 flavour.
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.