Clearlake Capital Group has acquired a stake in better-for-you snacks company That’s How We Roll LLC. The investment was made through Better For You Holdings, a company recently launched by the PE firm to look for deals in the food, health and wellness space. The target’s founder, Aldo, Zuppichini, will keep a stake in the company.
That’s How We Roll makes certified non-GMO and MSG-free cookies and tortilla chips under the Mrs. Thinsters amd Dippin’ Chips brands. Its products are sold in more than 10 thousand grocery and retail stores. “We believe Dippin’ Chips and Mrs. Thinsters are well positioned to attract consumers looking to make healthier lifestyle choices,” say Clearlake managing partners Jose Feliciano and Behdad Eghbali.
Better For You Holdings will co-invest on some transactions with food-industry veterans Jason Cohen and Leigh Feuerstein of Halen Brands, a recently formed investment company that focuses on high-growth segments in the food sector. Cohen has co-created and sold five food brands including Dippin’ Chips, Mrs. Thinsters, Mamma Says Biscotti, Sensible Portions Veggie Straws and Rickland Orchards Greek Yogurt Snacks.
The appetite for targets in the food and beverage sector is healthy, says Tyler Swoyer, a deal sourcing manager at Consolidated Investment Group in this video shot at AM&AA’s winter conference in Orlando, Florida. Some recent deals include Hammond, Kennedy, Whitney & Co. Inc. acquiring natural Panos Brands LLC; The Hain Celestial Group Inc.(Nasdaq: HAIN) is buying Orchard House Foods Ltd.; and General Mills Inc. (NYSEL GIS) purchased Epic Provisions.