M&A Deal Summary

Boulder Brands Acquires Phil s Fresh Foods - Evol Foods

On December 1, 2013, Boulder Brands, Inc. acquired food company Phil's Fresh Foods LLC - Evol Foods from Revelry Brands for 48M USD

Acquisition Highlights
  • This is Boulder Brands’ 2nd transaction in the Food sector.
  • This is Boulder Brands’ 3rd largest (disclosed) transaction.
  • This is Boulder Brands’ 2nd transaction in the United States.
  • This is Boulder Brands’ 2nd transaction in Colorado.

M&A Deal Summary

Date 2013-12-01
Target Phil's Fresh Foods LLC - Evol Foods
Sector Food
Buyer(s) Boulder Brands, Inc.
Sellers(s) Revelry Brands
Deal Type Divestiture
Deal Value 48M USD
Advisor(s) Houlihan Lokey (Financial)
Robinson & Cole LLP (Legal)

Target

Phil's Fresh Foods LLC - Evol Foods

Boulder, Colorado, United States
website
EVOL Burritos (evolburritos.com), based in Boulder, Colo., is changing the way the world thinks about frozen burritos. Phil Anson, CEO, chef and founder, is very choosy about what goes into his 11 varieties of hand-rolled burritos: antibiotic-free chicken, pork, beef and chorizo sausage; cage-free eggs; traditionally made tortillas; herb-roasted skin-on potatoes; house-made green chile and salsas; and numerous local and organic ingredients. EVOL's burritos, produced by Phil's Fresh Foods LLC.

Search 159,180 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Boulder Brands, Inc.

Paramus, New Jersey, United States

website


Category Company
SectorFood
Employees900
Revenue 516M USD (2014)
DESCRIPTION

Boulder Brands, Inc. is a provider of superior tasting, solution-driven products. The company's health and wellness platform consists of brands that target specific consumer needs: the Glutino® and Udi's Gluten Free® brands for gluten-free diets; the Earth Balance® brand for plant-based diets; the Level Life(TM) brand for diabetic diets; EVOL foods for consumers seeking simple and pure ingredients; and the Smart Balance® brand for heart healthier diets.


DEAL STATS #
Overall 2 of 3
Sector (Food) 2 of 3
Type (Divestiture) 2 of 2
State (Colorado) 2 of 3
Country (United States) 2 of 3
Year (2013) 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-31 Udi's Healthy Foods LLC

Boulder, Colorado, United States

Udi’s Healthy Foods LLC is a manufacturer, distributor and seller of granola and gluten- free baked goods.

Buy $125M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-23 Phil’s Fresh LLC (EVOL Foods)

Boulder, Colorado, United States

Phil’s Fresh, LLC (“EVOL Foods”) provides frozen-meal services.Based in Boulder, Colorado, EVOL Foods makes delicious, healthy and convenient frozen foods, and has quickly become one of the fastest-growing natural food brands in the country. EVOL’s award-winning frozen burritos, entrée bowls, pizzas and flatbreads are chef-created using premium ingredients from honest sources. From chicken and meats that come from humanely and sustainably raised animals, to cheese that is always hormone-free, EVOL’s products contain the best gourmet ingredients available from responsible sources.

Buy $48M

Seller(S) 1

SELLER

Revelry Brands

Boulder, Colorado, United States

Investor

website


Category Private Equity Firm
Founded 2009
SizeSmall
Type Sector Agnostic
DESCRIPTION

Revelry Brands is a growth-stage private equity firm focused on businesses in the natural foods and consumer products sectors. Revelry looks for companies at a 'crossroads in their development', where a partner and additional capital can help take the business to the next level. Revelry Brands was formed in 2009 and is based in Boulder, Colorado.


DEAL STATS #
Overall 1 of 2
Sector (Food) 1 of 1
Type (Divestiture) 1 of 1
State (Colorado) 1 of 2
Country (United States) 1 of 2
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-22 Wear Pact LLC

Boulder, Colorado, United States

Wear Pact LLC is a designer of clothing apparel like socks with soul, altruistic underwear, and other everyday essentials made with fabrics that feel good and go easy on the environment. Wear Pact was founded in 2009 and is based in Boulder, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Only Natural Pet Store LLC

Boulder, Colorado, United States

Only Natural Pet Store was founded in May, 2004 as an online store selling natural pet supplies direct to consumers. The Company has achieved rapid growth and quickly established itself as the leading online retailer in the natural pet supplies market.

Sell -