North Castle Partners, a private equity firm focused on businesses that promote sustainable, healthy living, announced it has acquired Sprout Organic Foods, Inc., an organic baby and toddler food company for an undisclosed amount. This transaction marks the fourth deal for North Castle within the organic foods space, having already invested in Naked Juice, Bora Bora Organic Foods, and Flatout Flatbreads.
Sprout was the pioneer of the Organic Pouch segment of the organic baby food industry. Utilizing specialized pouches and slow cooking technology, Sprouts foods are free of reconstituted concentrates, preservatives, fillers, and acidifiers.
“The organic baby food category is an attractive market with strong underlying fundamentals,” says Alison Minter, Managing Director of North Castle. “Sprout is a strong brand that resonates with retailers and consumers, with a product portfolio that has meaningful competitive differentiation.”
Commenting on the deal in a recent press release, Chip Baird, North Castle Managing Partner said, “At the foundation of our approach is to partner with exceptional management teams and industry professionals to unlock the full potential performance of these companies. We are pleased to announce that industry veteran Rick Klauser, formerly the Chief Marketing and Medical Sales Officer for U.S. Infant Nutrition at Nestle (Gerber), will become the CEO of Sprout, effective immediately.”
Earlier this year, North Castle sold Flatout Inc. to T. Marzetti Company, a wholly-owned subsidiary of Lancaster Colony Corporation.
To receive relevant news stories with summaries provided by GAI News, subscribe to daily or weekly service.