Investment firm North Castle Partners has acquired a controlling interest in Sprout Organic Foods, a developer, marketer and distributor of premium organic foods.
Sprout primarily serves the baby and toddler market with organic products. Sprout was the first company in the US natural baby food category to launch organic pouches. Its products are free from water-reconstituted concentrates, fillers, preservatives and acidifiers. Sprout products are available through national natural / speciality grocers in the US.
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This is North Castle's fourth investment in the natural and organic food sector. The private equity group has also invested in Naked Juice, Bora Bora Organic Foods, and Flatout Flatbreads. Earlier this year, the group sold Flatout to Lancaster Colony.
"We are excited about the Sprout acquisition as our latest nutrition platform that addresses the needs of today's consumers. The organic baby food category is an attractive market with strong underlying fundamentals. Sprout is a strong brand that resonates with retailers and consumers, with a product portfolio that has meaningful competitive differentiation," said Alison Minter, North Castle managing director.
Terms of the investment were not disclosed.
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