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VMG Partners Closes Second Fund

The new vehicle comes in slightly larger than the consumer product specialist's 2007 debut.

Who says the consumer is dead? VMG Partners, the San Francisco private equity firm that specializes in buying and building branded consumer product companies, finalized its second fund, holding a first and final close of $375 million on VMG Partners II, LP.

The new fund represents a small bump above its debut vehicle, the $325 million Fund I, raised in 2007.

VMG was originally launched in 2005 by David Baram, the former president and CEO of talent agency The Firm, who partnered up with a handful of veterans from TSG Consumer Partners, including Michael Mauzé, Scott Elaine Case, Robert Schult and Kara Cissell-Roell.

VMG's first fund, which had roughly 40% remaining as of last September, counts cosmetics maker Colorescience, bag brand Timbuk2, high-end tea maker Mighty Leaf, and natural snacks company Robert's American Gourmet (famous for its Pirate's Booty brand), among its portfolio.

VMG secured its first exit late last year, selling pet treat maker Waggin' Train in a heated auction that ultimately went to Nestle Purina PetCare.

Park Hill served as placement agent for the fundraising, while Latham & Watkins provided legal counsel.

 

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