Clearlake partners with KeVita co-founder to seek food and beverage deals
Clearlake Capital Group has launched better-for-you food and beverage company Disruptive Brands. The private equity firm created another similar platform in 2016.
Clearlake has partnered with food and beverage veteran Bill Moses on Disruptive Brands. Moses is the co-founder of Kevita Probiotic Drinks, which was acquired by PepsiCo Inc. (NYSE: PEP) in 2016. Disruptive Brands will seek investments in the health food and beverage sector.
“The partnership with Clearlake is a natural evolution of my passion to bring consumers healthy choices in organic, better-for-you products with substantiated functional benefits,” says Moses. “As an entrepreneur, I understand the challenges that founders and high-growth companies in the CPG sector face as they scale their businesses. "
Clearlake is a middle-market private equity firm based in Santa Monica, California that was founded in 2006. The investment firm targets a variety of sectors, including: technology, communications and business services, industrials, energy and power, and consumer products and services. The firm has over $3.5 billion in assets under management. Some of Clearlake's other food and beverage investments include: Chef's Cut Real Jerky, Mrs. Thinsters and Sensible Portions.
Buyers continue to chase food makers in the middle-market. Premium Brands Holdings has bought food distributor Raybern Foods from TSG Consumer Partners; San Francisco Equity Partners-backed Red Monkey Foods purchased salt and spice distributor San Francisco Salt Co.; and Vestar Capital Partners has agreed to acquire snacks producer Nonni's Food Group.