Van’s Natural Foods is based in Phoenix and is a clean ingredient food brand in frozen breakfast and snack foods including waffles, pancakes, cereal, crackers and snack bars. Van’s is expected to have net revenues of approximately $60m in calendar year 2014. Van’s Natural Foods will become part of Hillshire Brands’ Retail segment, pairing with well-known brands such as Jimmy Dean, Hillshire Farm and Ball Park. Van’s Natural Foods’ management will continue to lead the business.
Marc Magliacano, a Partner at Catterton, said, “We are proud of the brand and distinctive market positioning that we and the Van’s management team have created over the past few years. This transaction is a win for all parties involved and we are confident and excited that under Hillshire’s ownership Van’s will continue to experience significant growth and capitalize on new opportunities.”
Catterton Partners invests in all major consumer segments, including food and beverage, retail and restaurants, consumer products and services, consumer health, and media and marketing services. Recent investments include: Kettle Foods, Wellness and Nature’s Variety Pet Food Companies, Odwalla, CorePower Yoga, Sweet Leaf Tea, Restoration Hardware, Outback Steakhouse, Noodles & Company, PIADA, Pirch, Frederic Fekkai, Build-A-Bear Workshop, and P.F. Chang’s.
Last year the firm closed two funds including its flagship vehicle with commitments of $2.1bn.
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