Investment Summary

Strand Equity, Friend Skoler and Prelude Growth Partners Invest In Banza

On March 1, 2017, growth capital firm Strand Equity, private equity firm Friend Skoler and growth capital firm Prelude Growth Partners invested in food company Banza

Investment Highlights
  • This is Strand Equity’s 3rd, Friend Skoler’s 2nd and Prelude Growth Partners’ 1st transaction in the Food sector.
  • This is Strand Equity’s 9th, Friend Skoler’s 11th and Prelude Growth Partners’ 1st transaction in the United States.
  • This is Strand Equity’s 1st, Friend Skoler’s 1st and Prelude Growth Partners’ 1st transaction in Michigan.

Investment Summary

Date 2017-03-01
Target Banza
Sector Food
Investor(s) Strand Equity
Friend Skoler
Prelude Growth Partners
Deal Type Growth Capital

Target

Banza

Detroit, Michigan, United States
Banza is a manufacturer and marketer of legume-based foods, including traditional dried pasta and macaroni & cheese, sold under the Banza brand. Banza was founded in 2014 and is based in Detroit, Michigan.

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Investor(S) 3

DESCRIPTION

Strand Equity Partners is a growth equity firm investing in companies from the consumer industry. Prospective transaction types include management buyouts and growth financings. Strand Equity Partners was formed in 2012 and is based in Los Angeles, California.


DEAL STATS #
Overall 11 of 31
Sector: Food M&A 3 of 8
Type: Growth Capital M&A Deals 7 of 16
State: Michigan M&A 1 of 1
Country: United States M&A 9 of 27
Year: 2017 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Vita Coco

New York, New York, United States

Vita Coco is a provider of coconut water into the mainstream beverage section of groceries as a premium lifestyle drink and helped start the trend of natural-functional beverages. Vita Coco was founded in 2004 and is based in New York, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-23 Hippeas

New York, New York, United States

Hippeas is a producer of Organic Chickpea Puffs that are organic, gluten-free, vegan, non-GMO, and kosher. Hippeas was founded in 2015 and is based in New York City.

Buy -
Investor

Friend Skoler

West Caldwell, New Jersey, United States

Category Private Equity Firm
Founded 1998
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Friend Skoler is a private equity firm that invests in profitable middle-market companies across a range of industries. The Firm looks to commit $10 to $100 million of equity capital in businesses valued between $3 and $20 million. Generally, target companies have at least $10 million in sales and $1 million of EBIT. Sectors of interest include manufacturing, distribution, business services, direct marketing, e-commerce, event photography, digital imaging, retail and branded consumer products companies. The Firm will consider transactions ranging from buyouts and recapitalizations to expansion and acquisition financings. Friend Skoler was formed in 1998 and is based in Saddle Brook, New Jersey.


DEAL STATS #
Overall 11 of 12
Sector: Food M&A 2 of 2
Type: Growth Capital M&A Deals 3 of 4
State: Michigan M&A 1 of 1
Country: United States M&A 11 of 12
Year: 2017 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-05 Ballet Jewels

New York, New York, United States

Ballet Jewels is a designer and marketer of costume jewelry sold by mass merchants, specialty retailers and department stores.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-01 HEX Performance

Baltimore, Maryland, United States

HEX Performance is a manufacturer and marketer of advanced laundry detergent and related products specially formulated to clean synthetic fabrics more effectively than leading detergents. In addition, HEX’s products provide long-lasting fabric protection, reduce odor-causing bacteria in clothing, and are eco-friendly. Hex’s products are sold primarily to grocery, mass merchants, and online retailers in the U.S. HEX Performance was formed in 2013 and is based in Baltimore, Maryland.

Buy -
Investor

Prelude Growth Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2017
PE ASSETS 250M USD
Size Small
Type Sector Focused
DESCRIPTION

Prelude Growth Partners is a growth capital investor focused on the consumer sector. The Firm looks to provide entrepreneurs, founders, and management teams with capital and operating support to help build strong consumer brands. Specific areas of interest include personal care, beauty, food & beverage, baby, pet, health/wellness, and other consumer product, service and technology companies. Prelude Growth Partners was established in 2017 and is headquartered in New York City.


DEAL STATS #
Overall 1 of 13
Sector: Food M&A 1 of 4
Type: Growth Capital M&A Deals 1 of 11
State: Michigan M&A 1 of 1
Country: United States M&A 1 of 13
Year: 2017 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-08 8Greens

Edison, New Jersey, United States

8Greens is a health and wellness brand helping on-the-go, mainstream consumers stay healthy with an easy and tasty way to incorporate vegetable-based nutrients into their diet. 8Greens was founded in 2015 and is based in Edison, New Jersey.

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