EVOL Foods Receives Growth Equity Investment to Support Continued Expansion
"We're excited to announce our partnership with ACG and we're looking forward to the next stage of growth for the brand" said CEO Tom Spier. "We believe with this latest equity investment we can continue to build on the brand's momentum and take EVOL Foods to the next level through new distribution opportunities, product innovation and driving brand trial."
Jan 19 2012 --- EVOL Foods, Boulder-based maker of made-from-scratch natural and organic frozen meals and snacks, announced it received a minority growth capital investment from leading consumer-focused private equity fund Alliance Consumer Growth ("ACG"). ACG's investment will enable EVOL to further accelerate nationwide distribution, expand new product innovations, and continue to generate consumer awareness and trial.
EVOL's chef-inspired frozen burritos, entree bowls, pizzas and flatbreads are all-natural and delicious. From sourcing humanely- and sustainably-raised chicken and beef, to cheese and meat that is always hormone-free, EVOL is dedicated to finding responsible farmers and suppliers with the best-tasting, highest-quality ingredients.
After chef-entrepreneur Phil Anson launched the company in 2004 with a line of delicious frozen burritos, EVOL received an investment in 2009 from the founders of Bear Naked Granola, Brendan Synnott and Tom Spier. With Anson focusing on product innovation and quality, and Spier and Synnott actively involved in building the brand, the company has broadened its product line and distribution to become one of the fastest-growing natural food brands both locally (within Boulder, Colo.) and in the country.
"We're excited to announce our partnership with ACG and we're looking forward to the next stage of growth for the brand" said CEO Tom Spier. "We believe with this latest equity investment we can continue to build on the brand's momentum and take EVOL Foods to the next level through new distribution opportunities, product innovation and driving brand trial."
"Phil, Tom and Brendan recognized that products made with great-tasting, responsibly-produced natural ingredients would have broad appeal and could invigorate the frozen food category," said ACG Managing Partner Trevor Nelson. "They are not only frozen food innovators, but also a best-in-class management team with whom we are tremendously excited to partner. We look forward to helping them continue to build the EVOL brand."
San Francisco-based Bee Partners also participated in the transaction.
