Vestar Capital Completes Recapitalization of Roland Foods, Supporting Company's Next Phase of Growth
NEW YORK, Aug. 8, 2024 /PRNewswire/ – Vestar Capital Partners, a leading U.S. middle-market private equity firm, today announced the closing of the recapitalization of Roland Foods, LLC, a leading branded purveyor of fine global ingredients serving the foodservice industry for over 90 years. As part of the transaction, Vestar and co-investors have made a significant growth capital investment alongside the refinancing of Roland Foods' credit facilities. The recapitalization positions the company for the continued execution of its organic growth strategy and provides significant dry powder for future acquisitions. Terms of the transaction were not disclosed.
"Roland has been a very successful investment for Vestar thus far, and we are thrilled to continue our partnership with CEO Keith Dougherty and the Roland management team to support the company's continued growth and expansion," said Ken O'Keefe, Vestar Managing Director and Chief Operating Officer, and Member of the Board of Roland Foods. "Over the course of our ownership, Roland has scaled significantly and materially expanded its product offerings, both organically and through the acquisitions of AUI Fine Foods and ifiGOURMET. We see a tremendous opportunity to continue to scale the platform via M&A and additional investments across the organization."
"We have been very strategic about our growth, and this new capital will help support future acquisitions and other initiatives that will allow us to take advantage of strong demand for specialty foods and ingredients," said Mr. Dougherty. "We're excited to keep moving forward with a partner that truly understands our business, and we thank the Vestar team for their ongoing support."
About Roland Foods
Since 1934, Roland Foods has been a purveyor of premium, high-quality global ingredients. With a curated portfolio of over 2,400 products carefully sourced worldwide, the brand is a trusted resource relied upon by chefs and home cooks. An established brand in the Fine Foods category, Roland Foods aims to inspire culinary curiosity and creativity in the kitchen. To learn more about Roland Foods, please visit https://rolandfoods.com/
Behind the Buyouts: Vestar's Bhat on Continuation Funds, Bilateral Recaps Podcast
Vestar’s Nikhil Bhat was interviewed by Nikitha Sattiraju for The Deal's Behind the Buyouts podcast where he discussed the Firm’s recent activity, including its exit of Edward Don & Company, its investment in Tech24 and the closing of its continuation vehicle for Circana. Nikhil also talked about Vestar’s partnership approach to investing and how it can provide the Firm with an advantage in a competitive deal market. Listen here or wherever you get your podcasts: https://lnkd.in/eXFS_rRk
Mergers & Acquisitions Reveals the 2024 Middle-Market Deals of the Year
Mergers & Acquisitions has named 11 deals as its 2024 Middle-Market Deals of the Year. Tech24 was named an Honorable Mention.
These exceptional transactions transcended a variety of market headwinds faced by dealmakers in the last year.
This marks our 17th annual Mid-Market M&A Awards. Here are this year’s winners, listed in alphabetical order and with links to full coverage. An additional 14 deals received honorable mentions. They are also listed below.
Authentic Restaurant Brands‘ take-private acquisition of Fiesta Restaurant Group was its largest acquisition to date.
The merger of Banyan Acquisition Corp. (NYSE: BYN), a publicly traded special purpose acquisition company, and Pinstripes Inc. resulted in an IPO.
Elf Beauty (NYSE: ELF)‘s acquisition of skincare brand Naturium is its largest so far.
Fanatics acquired PointsBet USA from Australian sports betting company Pointsbet Holdings after beating out competitor DraftKings (Nasdaq: DKNG) in a bidding war.
In a market where SaaS M&A activity has been down, LiveRamp Holdings (NYSE: RAMP)’s acquisition of startup Habu reflected its willingness to fund a significant inorganic expansion opportunity.
Lumentum Holdings (Nasdaq: LITE)’s acquisition of Hong Kong-based Cloud Light Technology involved a complex cross-border transaction.
Masonite International Corp. (NYSE: DOOR)’s acquisition of Fleetwood Aluminum Products broadened its product lineup and allowed it to enter new markets.
Mavis Tire Express Services Corp.’s acquisition of TBC Corporation’s retail tire business solidified its position as the largest independent tire retail dealership in North America.
In a deal that set a high benchmark for upfront consideration for the sale of a private, pre-clinical stage, biopharma company, Swiss pharmaceutical giant Novartis (NYSE: NVS) acquired DTx Pharma for $500 million in cash, plus an additional $500 million if certain milestones are met.
Canadian fintech company Nuvei Corp. (Nasdaq: NVEI)’s acquisition of payments company Paya Holdings from PE firm GTCR gave it a sizeable foothold in the United States.
Thermo Fisher Scientific (NYSE: TMO)’s acquisition of CorEvitas from Audax Private Equity complements its clinical research business.
Vestar Capital Partners Named to Inc.'s 2023 List of Founder-Friendly Investors
NEW YORK, Nov. 2, 2023 /PRNewswire/ — Vestar Capital Partners, a leading U.S. private equity firm, today announced that it has been named to Inc.'s 2023 Founder-Friendly Investors list honoring the private equity, venture capital, and debt firms with the best track records of successfully backing entrepreneurs.
The list recognizes firms with which entrepreneurs can collaborate while gaining the financial and strategic support they need to help accelerate growth. The firms on the Inc. list have successful track records of remaining actively involved with the businesses in which they invest.
Vestar has invested over $3 billion in more than 27 founder- and family-owned companies since its inception in 1988, and its current portfolio consists of 12 founder-led businesses across Consumer, Business & Technology Services and Healthcare.
"We are proud of our 35+ year track record of partnering with founders, continuing their family legacy, and sharing a commitment to their values," said Dan O'Connell, Founder and CEO of Vestar. "We appreciate Inc.'s recognition, and we are grateful for the opportunity to offer our operational expertise, long-term perspectives, and passion for building better businesses to our founder partners."
"Now more than ever, founder-led companies need financing partners that offer guidance, expertise, and understanding—not just capital. These are the private equity, venture capital, and debt firms that have founders' backs when it comes to accelerating growth," says Scott Omelianuk, editor-in-chief of Inc. Business Media.
Inc. compiled its list by surveying founders who have worked with private equity, venture capital, and debt firms about their experiences partnering with the firms and examining data on how portfolio companies have grown during these partnerships.
To see this year's complete list, go to: https://www.inc.com/founder-friendly-investors/2023
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since inception in 1988, Vestar funds have invested $11 billion in 92 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.
Nox Health Expands Board of Directors
ALPHARETTA, Ga., Nov. 01, 2023 (GLOBE NEWSWIRE) — Nox Health, a global sleep health leader in sleep diagnostics and value-based sleep care management, today announced the appointment of three new board members: Lloyd Dean, Chief Executive Emeritus, CommonSpirit Health; David Schlanger, Executive Chairman, Progyny; Dr. Bill Lewis, Telehealth Consultant to Fortune 500 companies.
“Sleep is the missing gap in care central to all chronic conditions,” said Sigurjon Kristjanson, CEO Nox Health. “Lloyd, David and Bill each provide the company with relevant, current and direct experience working with the plan sponsors, payers, providers and health systems who can benefit from filling that gap in care through our portfolio of value-based sleep care management solutions.”
David Schlanger is the Executive Chairman, Progyny, a leading fertility benefits management company. He previously served as the company’s CEO, where he led the company to reach key milestones, including achieving five consecutive years of industry leading clinical outcomes and becoming the first fertility and family building company to go public. Prior to Progyny, he served as the CEO of WebMD, the health information resource.
“Nox Health is differentiated in the market because it reframes sleep as a critical intervention strategy that curbs the progression of multiple chronic diseases, with a dramatic impact on plan costs and outcomes,” said David Schlanger, Executive Chairman, Progyny. “I’m delighted to be working with the Nox team to guide the commercialization strategy as we align the interests of members, plan sponsor, and providers to ensure successful outcomes.”
Lloyd Dean, Chief Executive Emeritus, CommonSpirit Health, is a nationally recognized leader within healthcare. During his time as CEO of CommonSpirit Health, he was responsible for the organization’s overall management, governance, strategy and direction. He led CommonSpirit Health and Dignity Health through significant strategic, operational, and financial transformations to its current status as a leading health care organization recognized for high quality, compassionate care, operational excellence and successful financial results.
“Given my experience in the health system space across large patient populations, I understand how sleep deprivation impacts virtually every chronic condition, like diabetes, hypertension and obesity,” said Lloyd Dean, Chief Executive Emeritus, CommonSpirit Health. “I look forward to working with the Nox Health Board of Directors as the company integrates its science-backed, behavioral interventions into traditional care models to help overcome sleep care treatment barriers, drive higher rates of adoption and reduce costs.”
Dr. Bill Lewis currently serves as Senior Consultant, through WellMedcare, on telemedicine for Fortune 500 companies and Care Delivery Organizations like Humana. He is currently engaged on Advisory Boards for several telemedicine companies such as GlobalMed, SmartMeter and Teledentist, and is on the Board of Quest Analytics. Previously, he was the Chair of the ATA/CHQI Accreditation Committee for Telemedicine currently known as the URAC Telemedicine Accreditation Program. He served as SVP for Concentra overseeing 140 clinics and 200 plus Clinic worksites and physicians for 20 years.
Dr. Bill Lewis commented: “I am proud to join the Board of Directors of Nox Health, a purpose-driven company that is focused on enabling access and improving outcomes, issues that I have dedicated my career to addressing.”
About Nox Health
Nox Health is a global leader in sleep diagnostics and value-based care on a mission to improve the health of people with chronic conditions. Our diagnostic devices are used more than two million times annually in more than 50 countries, and our value-based, outcomes-focused sleep care management program now covers more than a million employees. Headquartered in Atlanta, Georgia, and with operations in Reykjavík, Iceland and Denver, Colorado, Nox Health’s delivery of sleep care is unmatched with accurate sleep diagnostics, comprehensive, value-based sleep care management and rigorous outcomes measurement. For more information on Nox Health, please visit www.noxhealth.com.
Titan Frozen Fruit Strengthens Team with the Additions of Alan Cutler as Chief Financial Officer and Tom Byrne as Executive Vice President of Commercial Development
Longtime Industry Executives to Support Titan's Sustainable Growth and M&A Initiatives
SANTA MARIA, Calif., Oct. 23, 2023 /PRNewswire/ — Titan Frozen Fruit ("Titan" or "the Company"), a market-leading, value-added food ingredient manufacturer and fruit processor, announced today two new additions to strengthen the Company's senior leadership team. Alan Cutler has been named Chief Financial Officer and Tom Byrne has been named Executive Vice President of Commercial Development. Titan is a portfolio company of Vestar Capital Partners and Windhover Capital.
"Given Alan's and Tom's successful track records, we are confident they will play a key role in Titan's transformation," said Jon Larsen, CEO of Titan. "Alan's leadership in developing financial strategies to drive sustainable growth, as well as his focus on enhancing Titan's finance function and processes, will be critical as we build out the organization. Additionally, Tom's strong sales and business development background and his M&A experience will be an asset for Titan as we look for new opportunities to grow the business both organically and through strategic acquisitions. I welcome them both to the Company."
Mr. Cutler has spent over 25 years building and leading teams in the food, agriculture and manufacturing industries, most recently as CFO of Randall Foods. Some of his previous C-level roles include serving as CFO at Vita-Pakt Citrus Products Co., CEO and COO at True Fresh High Pressure Processing/True Food Innovations, and CFO/President/GM at Goglanian Bakeries Inc. (now Rich Products Corporation, Inc.). Mr. Cutler earned both his bachelor of science and masters of business administration degrees from Troy University.
"I'm eager to work with the Titan team to leverage what I've learned over my long career in food processing to help position the Company for its next stage of growth," said Mr. Cutler. "I look forward to working closely with Jon, Tom and the rest of the Titan management team as we look to take advantage of opportunities in the market."
With more than 25 years of experience leading transformational changes in complex business environments, Mr. Byrne was most recently Senior Vice President – Division Manager at Golden West Packaging Group, where he led the integration of three agricultural-centric packaging businesses. Previously, he served as President of Growers Express, and was also Vice President – General Manager at Sambrailo Packaging, and Director of Food Sales at Peninsula Packaging. He holds a bachelor's degree in business management from the University of Notre Dame.
In this newly created Executive Vice President of Commercial Development position, Mr. Byrne will lead business and product development and operational efficiencies across Titan, and will also serve as a critical member of the Company's Corporate Development/M&A team.
"I'm thrilled to be joining Titan at an exciting stage of its development," said Mr. Byrne. "With its strong industry reputation and the resources and support from Vestar Capital and Windhover Capital, Titan is well positioned to become a true leader in a fragmented market. I am eager to drive new innovations and help grow the Company."
About Titan Frozen Fruit
Based in Santa Maria, CA and founded in 2013, Titan is a market leading, value-added food ingredient manufacturer and fruit processor. The Company buys berries from a network of large commercial growers in California and Baja California and processes the berries into a variety of pack styles (aseptic and pasteurized purées, purée concentrate, thermal particulate, individual quick frozen and block quick frozen). Titan sells the processed berries to a diversified roster of food and beverage manufacturers, foodservice/QSRs and retail/club stores. For more information on Titan, please visit www.titanfrozen.com.
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since inception in 1988, Vestar funds have invested over $11 billion in 92 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $52 billion. For more information on Vestar, please visit www.vestarcapital.com.
About Windhover Capital
Windhover Capital is a food, beverage, pet and consumer focused private equity firm based in Seattle, Milwaukee and New York. Windhover's strategy is to partner with management teams and owners to build strategic value, improve profitability and accelerate growth. For more information on Windhover, please visit www.windhovercap.com.
Vestar Capital-backed Roland Foods Acquires ifiGOURMET, a Provider of High-quality Products for the Bakery and Pastry Industries
NEW YORK, Aug. 21, 2023 /PRNewswire/ — Roland Foods, LLC ("Roland Foods"), a purveyor of fine global ingredients for over 85 years and a portfolio company of Vestar Capital Partners, announced today that it has acquired ifiGOURMET, a leading importer and master distributor of high-quality products for professional use in the bakery, pastry, confectionery, and ice cream industries. Terms of the transaction were not disclosed.
ifiGOURMET will be combined with AUI Fine Foods, Roland Foods' sweet division, and ifiGOURMET's owner and CEO Rick Brownstein will remain with the company going forward.
"This strategic acquisition will strengthen AUI Fine Foods' footprint in the key Chicago and San Francisco markets and expands our sweet product offering, which will allow us to better serve existing and new customers nationwide," said Keith Dougherty, CEO of Roland Foods. "We believe tremendous opportunities exist in the gourmet food and ingredients market today, and the addition of the ifiGOURMET team will better position Roland Foods for growth."
An importer of gourmet dessert products and ingredients from around the world, ifiGOURMET serves more than 1,500 in-store bakery, restaurant chain and foodservice customers nationwide. It operates two distribution centers in Chicago, IL, and San Francisco, CA.
"We are proud to support Roland Foods' expansion with the acquisition of ifiGOURMET, and we look forward to continuing our partnership with Keith and the entire Roland Foods and AUI Fine Foods team as they continue to identify new strategic acquisition opportunities," said Ken O'Keefe, Vestar Managing Director and Chief Operating Officer, and Member of the Board of Roland Foods.
"Joining AUI Fine Foods and the Roland Foods' family will provide ifiGOURMET with the resources and relationships needed to take our organization to the next level," said Mr. Brownstein. "Roland Foods and AUI share our culture and strong commitment to customer service and deeply understand our business, and we're excited about the future."
About Roland Foods
Since 1934, Roland Foods has been a purveyor of premium, high-quality global ingredients. With a curated portfolio of over 2,400 products carefully sourced worldwide, the brand is a trusted resource relied upon by chefs and home cooks. An established brand in the Fine Foods category, Roland Foods aims to inspire culinary curiosity and creativity in the kitchen. To learn more about Roland Foods, please visit https://rolandfoods.com/
PE Hub Podcast: How PE pros are handling higher interest rates and the slowdown in dealmaking
In this first episode of the PE Hub miniseries, Private Markets and the End of Cheap Money, reporters talks to dealmakers from Corsair, OEP, Vestar and more to hear how sponsors are coping with the higher price of ‘L’ in LBOs.
Central banks around the world have been raising interest rates to combat inflation, making borrowing more expensive for everyone. That includes private equity firms, which for years have enjoyed historically low borrowing costs to finance leveraged buyouts. So how are private equity firms copying with the end of cheap money? To find out, reporters and editors across several PEI Group titles have spent the last few months speaking to dozens of industry participants to get their perspectives.
In this first episode of the five-part podcast miniseries, Private Markets and the End of Cheap Money, we look at how higher interest rates are playing out in private equity transactions and why certain areas of M&A (deals in the mid-market, in particular) may be facing outcomes different from what you might expect.
Mary Kathleen Flynn, editor-in-chief of PE Hub, spoke with a wide range of dealmakers, including private equity firm leaders, lenders and investment bankers, about the impact of high interest rates and other factors like high inflation on PE-backed transactions.
Featured in this episode: Norm Alpert, founding partner at Vestar Capital Partners; Greg Belinfanti, senior managing director of One Equity Partners; Marc Leder, co-founder and co-CEO of Sun Capital Partners; Ignacio Jayanti, CEO of Corsair Capital; Milwood Hobbs Jr, managing director and head of North American sourcing and origination at Oaktree; Michelle Handy, managing director and head of portfolio and underwriting of First Eagle Alternative Credit’s direct lending platform; and Peg Jackson, managing director, software, internet and digital media at Stifel.
Listen here on Apple Podcasts or on the PE Hub website.
Vestar VII Portfolio Company Simple Mills Named One of Fast Company’s 2022 Brands That Matter
Fast Company’s 2022 Brands That Matter list recognizes companies leading on social action, sustainability, inclusivity, and fun
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Fast Company’s Brands That Matter awards program aims to get beyond corporate vision statements and management talking points, celebrating a company’s connection with its audience through cultural relevance, social impact, and clear, authentic communication.
Now in its second year, Brands That Matter has grown from 95 honorees last year to 144 in 2022. While judging applications, editorial staff looked for a clear synthesis between how the brand presents itself and how its customers perceive it. This year’s honorees are divided between 70 brands in 22 categories and our main list, which contains 74 brands that broadly fit into five themes—Community-Minded Business, Elevating the Everyday, Fun and Fandom, Mind and Body, and Spreading the Word.
All of the honorees clearly generated enthusiasm among their customers, offering a model of what other brands should be aiming for, and what a brand, at its best, can achieve.
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Mind and Body Category
These 19 brands are helping people sharpen their minds, look good, and improve their health -- BY JEFF BEER
Need to look good, feel good, or learn a new language? These Brands That Matter winners have you covered.
The brands we trust with our physical and mental well-being play a unique role in our lives. From jeans and make-up, to fitness recovery and fertility, these companies are building relationships with customers beyond the products they’re selling. As Brands That Matter honorees, the following 20 brands demonstrated a commitment to mind and body—whether that’s fighting hunger, making food more sustainable, or preventing skin cancer.
Duolingo has gamified language learning, while also finding new ways to tap into culture. On one hand, its mascot, Duo the Owl, is a TikTok star, while on the other, the brand made a free Ukrainian phrasebook for people to help refugees from that country’s war with Russia. Abercrombie not only ditched the dark mall stores and too-cool vibe for a more inclusive brand, which it baked into its products like Curve Love jeans that take into account a much more diverse variety of body types. Kindbody has worked to take fertility healthcare from a barely whispered issue into a more accessible and inclusive service for all.
Here are the brands leading the way for our mind and body.
ABERCROMBIE & FITCH
Once the domain of shirtless models and dimly lit mall stores, Abercrombie & Fitch has gone through a more recent brand revitalization. That image lift includes combining TikTok creativity and community engagement with social issues through support for The Steve Fund and fellow Brands That Matter honoree The Trevor Project, as well as smart product moves like its Curve Love denim fits, and the launch of a new performance-active brand called YPB.
ABOUT-FACE
About-Face has become a TikTok and fan favorite for fuss-free makeup that is still plenty extra—and that’s by design. Founder Ashley Frangipane, aka singer-songwriter Halsey, developed the Technicolor, texture-forward cosmetics (think chunky glitter, buttery shimmer, and glossy shine) to be as cost conscious as they are extravagant. Most of About-face’s clean, vegan products—from liquid shadow Matte Fluid Eye Paint to the super-creamy Cheek Freak Blush Balm—are priced between $12 and $18, can be easily blended out with fingers, and are designed to offer users versatility in constructing whatever look they want. Following a solid launch in January 2021 as a direct-to-consumer brand, it hit more than 500 Ulta locations and the beauty retailer’s website in June, bringing the products to a wider audience. The company also debuted the even lower-priced but equally Gen Z-savvy AF94 by Halsey line, which launched exclusively at Walmart in July. —Rachel Kim Raczka
COURSERA
Coursera has more than 100 million registered learners, and counts as partners more than 250 leading universities and industry educators—including Yale, AWS, and Microsoft—to which it offers job-relevant courses, hands-on projects, certificates, and bachelor’s and master’s degrees. The brand’s biggest impact had been aimed at expanding access to education for underserved communities around the world, with initiatives like the American Dream Academy. Undertaken alongside the Milken Center for Advancing the American Dream, it will serve more than 200,000 underemployed people over three years. The brand has also worked with organizations in Barbados to reskill up to 120,000 pandemic-impacted workers and provide 20,000 scholarships for Barbadian women.
DUOLINGO
Duolingo brings a sense of humor to TikTok with the antics of its owl mascot, but data show it’s serious about language learning. The language learning platform finds ways to tap into culture, with a 56% boost in users studying Italian in the two days after Italy’s song won Eurovision 2021, and 40% more interest in learning Korean in the two weeks after Squid Game’s debut than in the week prior. With the Russian invasion of Ukraine driving interest in learning Ukrainian—and a 577% increase in users learning Ukrainian—Duolingo donated that ad revenue to relief organizations.
ELTAMD SKIN CARE
Long trusted as one of the best sunscreen brands under the, uh, sun, EltaMD has worked over the past year to create brand work that highlight’s lesser-known skin cancer risk. While skin cancer is often associated with fair skin, survival rates for Black Americans who contract it is much lower, and one of the most common sites of skin cancer is the bottom of the foot. Now you know.
IMPOSSIBLE FOODS
A name synonymous with plant-based meat products, Impossible has further expanded its footprint over the past year by releasing faux sausage, chicken nuggets, and pork products, while also appealing to meat eaters. According to Chicago-based analytics company Numerator, nearly 100% of Impossible Foods buyers also buy animal-derived products.
JUST EGG
The brand’s plant-based egg is made from mung beans that use 83% less land, 98% less water, and produces 93% fewer carbon emissions than conventional eggs. This year, Just Egg launched with chains like Caribou Coffee and Peet’s Coffee, and in New York City delis through fellow Brands That Matter honoree Plantega—bringing its plant-based message to breakfast sandwiches across the country.
KINDBODY
The fertility benefits provider aims to help fertility healthcare in the U.S. evolve from fragmented, inequitable, expensive, and inaccessible to the most accessible. This year, Kindbody launched at-home fertility tests for women and men, further expanding access, and more than 10,000 people attended fertility education events hosted by the brand.
LITTLE SPOON
Healthy baby-food-meets-celebrity cult brand Little Spoon has found a way to charm both parents and their little ones. Kids love the food enough to boost sales by 110% in the past year and see the company expand into older kids’ meals and snacks. Its pop cultural cache includes celeb supporters like Serena Williams, Bobbi Brown, Arianna Huffington, and Rebecca Minkoff, as well as a board game called Is This Normal that sold out with zero advertising.
OLAY
Olay has leaned into its brand muscle by helping to get more BIPOC—especially women of color—into STEM fields. Projects in the past year have included the #DecodeTheBias campaign, which sent 1,200 girls to code camp with Black Girls CODE, and a Million Women Mentors partnership, which mentored 1,000 girls interested in STEM. The brand also has committed to having no retouching or distortion of the skin in any of its U.S. ads, including content created by influencers for the brand.
POSHMARK
With more than 80 million global users, the secondhand clothing platform was acquired by South Korean tech company Naver Corp in October for $1.2 billion. In the year preceding the acquisition, the brand built out new features that allow users to shop by trends and repost items they’ve purchased, as well as giving sellers tools for real-time data on their sales and inventory. The brand also partnered with Snap to launch Poshmark Mini, a social shopping experience inside of Snapchat.
SIMPLE MILLS
This is a brand that takes the planet’s health seriously by making regenerative agriculture a central part of its supply chain in an effort to make it more mainstream. Simple Mills designed products like its Sweet Thins and Organic Seed Flour Crackers to include a diverse variety of ingredients—watermelon seed flour, for example—that create market demand for underrepresented crops to enhance agricultural biodiversity. Also, it’s building direct farmer contracts that include technical assistance and financial incentives for adopting regenerative principles.
SUMMERSALT
Summersalt has made its mission dismantling the toxic imagery around swimsuit marketing (and the negative ways it can affect body image). The brand’s products prioritize non-sexualized designs and body-positive advertising. Its “Every Body is a Summersalt Body” campaign focused on body positivity and self-confidence, featuring a diverse set of inspiring women. Participants included Olympian and registered nurse Ilona Maher, models and podcast cohosts Michaela and Hunter McGrady, best-selling novelist Candace Bushnell, WNBA All-Star Betnijah Laney, and others.
THE BODY SHOP
On the heels of the #BlackTikTokStrike, the brand launched its rejuvenated line of Body Butter in North America by engaging a diverse and talented group to develop its ad campaign, which created an original dance aimed at spreading love, body positivity, and joy. The viral dance shone a bright light on creators whose creativity and talents had been marginalized on the platform—and a month after launch, TikTok creator and campaign creative Laila Mohammad won the first-ever VMA award for best viral dance.
THE NORTH FACE
Read our cover story on how filmmaker and adventurer Jimmy Chin is helping the North Face explore important new terrain: a more diverse outdoors.
THE REALREAL
The luxury fashion consignment platform launched its Circular ReSource Lab last year to create impactful solutions to this fashion waste crisis, including the ReCollection upcycling program, in partnership with brands like Balenciaga and Stella McCartney, which turns damaged items into one-of-a-kind pieces.
THERABODY
Though it’s been around since 2009, Therabody (née Theragun) has had a transformative past couple years. The company has expanded its roster of products beyond its flagship massage gun to include everything from new devices to a CBD line. Therabody also has been opening brick-and-mortar retail stores, as well as several Reset locations, billed as “whole-body wellness centers” that feature signature massage and other therapeutic treatments, offering customers a chance to test out the latest products. These include compression therapy boots, designed for massage and post-workout recovery; a handheld facial health tool with micro-current and LED functionality, as well as cold and hot therapy; and a burgeoning period pain relief program delivered via the company’s PowerDot Device. Therabody also has been giving back, including partnerships with Red, to donate 2% of the purchase price of special red devices and certain CBD products to health-focused programs. —Danica Lo
VIRGIN PULSE
People rarely get excited about a health management and benefits navigation platform, but Virgin Pulse has managed to buck that trend and get users engaged. Used by leading companies and national health plans, the company is focused on helping people build health behaviors via its Homebase for Health, which offers live coaching and programs on everything from mindfulness and nutrition to musculoskeletal health and quitting tobacco. By Virgin Pulse’s accounting, 73% of users developed positive daily habits in 2021, and its use of behavioral science, incentives, and personalization led to sustained, continuous engagement of 50%, compared with the industry average of about 5%.
QUAKER
The PepsiCo-owned brand worked over the past year to expand its Quaker Qrece program, which targets malnutrition in Latin America through donations of oat-based food products, and has helped more than 10,000 children in Mexico and Guatemala, aiming to reach 50,000 kids by 2025. The work also has attracted more than 22 million media impression and 340 million unique visitors to its website.
This article is part of Fast Company’s 2022 Brands That Matter awards. Explore the full list of brands whose success has come from embodying their purpose in a way that resonates with their customers.
Simple Mills Reports Significant Post-Pandemic Growth, Doubling Retail Sales Since 2019
CHICAGO--(BUSINESS WIRE)--Simple Mills, the company on a mission to advance the holistic health of the planet and its people through delicious, better-for-you foods, today announced it experienced its most momentous growth in company history from 2019 to 2022. Simple Mills more than doubled retail sales during this timeframe. The brand was originally founded to help make clean, nutrient-dense foods easy and accessible, but evolved its mission in 2021 to include planetary health as an equally critical component, making a promise that all future innovation will advance regenerative agriculture.
“I started Simple Mills in 2012 with a brazen vision of helping people feel better through purposeful, nutrient-dense food that easily fit into their lives and didn’t ask them to sacrifice flavor for health,” said Simple Mills founder and CEO, Katlin Smith. “But as the business grew, I realized human health can’t truly exist without considering the health of our planet. I became interested in regenerative agriculture and how we can use food as a force for both human and planetary health. We took a significant leap in evolving our mission and making a commitment that 100% of product innovation moving forward will help advance regenerative farming principles – but what’s most exciting is how consumers and retailers are responding. We’re experiencing growth and recognition unlike anything we’ve seen since our founding and are excited to continue amplifying our people and planet-forward mission in 2023 and beyond.”
As consumers increasingly recognize the impact their food choices have on their own health as well as that of the planet, Simple Mills has become a staple in millions of American households. To pioneer the way the world eats through revolutionary food design, Simple Mills created three product innovation pathways: 1) design for diverse ingredients, 2) direct trade with farmers, and 3) invest in regional adoption of regenerative agriculture principles for key ingredients. One hundred percent of its product innovation now advances regenerative agriculture through at least one of these pathways. The brand’s evolved mission and commitment to personal and planetary health is evident in new product launches, including new Nut Butter Stuffed Sandwich Cookies, smartly sweetened with organic coconut sugar from perennial trees that thrive within agroforestry systems and Organic All Purpose Baking Mix, which features a diverse, nutrient-dense mix of chestnut, almond, buckwheat, and flax flours.
The company is also strengthening its work with farmers and suppliers to provide greater transparency to on-farm practices through a new Regenerative Agriculture Engagement Tool. This proprietary interactive platform gathers farm-level data from suppliers about specific practices used by farmers throughout the supply chain. It also helps visualize trends across regions and crops, while serving as a farmer-forward resource by prompting reflection on ways growers are already implementing regenerative principles on their land and highlighting opportunities to expand their approach in the future.
“Our commitment to a product design framework that connects our regenerative agriculture initiatives to our innovation pipeline is at the heart of our vision,” said Christina Skonberg, Director of Sustainability & Mission. “The three innovation pathways guide our product development process, and our programming allows us to gain visibility to the farm-level practices and associated impacts to our value chains, which is critically important for creating products that are better for consumers and the planet. We’re especially excited about our improved Regenerative Agriculture Engagement Tool, as it’s an incredible way to gain insight and visibility into ingredients throughout our supply chain, identify partnership opportunities to scale regenerative principles, and serve as a resource to farmers and suppliers who are interested in deepening their commitment to the health of the land.”
To support its robust innovation pipeline, Simple Mills recently opened a new innovation hub, called Sunworks, in Mill Valley, Calif. The space sits in a geographical epicenter for innovation and disruptive design, and serves as a new destination for creativity. It houses the Innovation, R&D, and Sustainability teams alongside Smith. Many of the brand’s farm partners and agricultural thought partners are also located in California, giving the team opportunities to learn from leaders in the agricultural movement on a regular basis while also providing a place to host farmers, media, and industry events. In addition to the Sunworks office, Simple Mills has seen powerful growth across its workforce, with 100% growth between 2020 and 2022, reaching nearly 100 employees. With 62% of employees having been hired since the start of COVID-19, the brand has fostered an inclusive hybrid work environment with employees spanning 17 additional states across the country.
Simple Mills crackers, cookies, bars and baking mixes are sold in more than 28,000 natural and conventional stores across the country. This includes national distribution with top U.S. retailers, including Whole Foods, Sprouts, Target, Walmart, and Costco. In the last five years alone, Simple Mills has entered more than 20,000 new stores, increasing its brick-and-mortar availability by more than 300%. Aside from significant retailer growth, the brand also has a strong e-commerce presence both on Amazon and its own website.
To learn more about Simple Mills, its commitment to advancing regenerative agriculture through innovations, and to find a retailer near you, please visit www.simplemills.com.
About Simple Mills
Founded in 2012, Simple Mills is a leading provider of better-for-you crackers, cookies, snack bars and baking mixes made with clean, nutrient-dense ingredients and nothing artificial, ever. Celebrating its tenth anniversary this year, the company has disrupted center-aisle grocery categories to become the #1 baking mix brand, #1 cracker brand, #1 cookie brand in the natural channel1 with distribution in over 28,000 stores nationwide. Its mission is to advance the holistic health of the planet and its people by positively impacting the way food is made. For more information, visit www.simplemills.com.
1. SPINS Data, $ Sales, Latest 52 Weeks Ending 9/4/22
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