M&A Deal Summary

Boulder Brands Acquires Phil’s Fresh

On December 23, 2013, Boulder Brands acquired food company Phil’s Fresh from Alliance Consumer Growth for 48M USD

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

M&A Deal Summary
Date 2013-12-23
Target Phil’s Fresh
Sector Food
Buyer(s) Boulder Brands
Sellers(s) Alliance Consumer Growth
Deal Type Add-on Acquisition
Deal Value 48M USD

Target

Phil’s Fresh

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.

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Buyer(S) 1

Buyer

Boulder Brands

Paramus, New Jersey, United States
Category Company
Sector Food
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 3 of 3
Sector (Food) 3 of 3
Type (Add-on Acquisition) 1 of 1
State (Colorado) 3 of 3
Country (United States) 3 of 3
Year (2013) 2 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-01 Phil s Fresh Foods - Evol Foods

Boulder, Colorado, United States

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.

Buy $48M

Seller(S) 1

SELLER

Alliance Consumer Growth

New York, New York, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2011
Size Small
Type Sector Focused
DESCRIPTION

Alliance Consumer Growth (ACG) is a private investment firm focused exclusively on high-growth consumer products and services companies. ACG looks to commit $10 to $50 million in businesses generating $5 to $50 million in sales. Specific areas of interest include food/beverage, health/beauty, household products, pet products, apparel, retail, restaurants, and education. Target companies typically possess differentiate products or services with strong brands and loyal customers. Alliance Consumer Growth was established in 2011 and is based in New York City.

DEAL STATS #
Overall 3 of 11
Sector (Food) 2 of 6
Type (Add-on Acquisition) 2 of 6
State (Colorado) 1 of 1
Country (United States) 3 of 11
Year (2013) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-23 Plum Organics

Emeryville, California, United States

Plum Organics is a provider of premium, nutritious organic baby food, toddler and kid snack food products. Recognized for its unique culinary-inspired recipes and a modern approach to family nutrition, Plum offers a complete line of organic products that ensure healthy eating.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-15 Suja Juice

Oceanside, California, United States

Suja Juice is an organic, non-GMO, cold-pressed juice brand and among the fastest-growing beverage companies in the U.S. Suja is available for purchase at most major grocery and natural foods stores nationwide and select products can be purchased online at sujaJuice.com. Suja Juice was founded in 2012 and is based in Oceanside, California.

Buy -
Mergr

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