Private-equity-backed Urban Farmer has acquired US frozen-food business Caulipower.
Urban Farmer, majority owned by Paine Schwartz Partners, markets frozen pizzas, crusts and bakery products.
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Caulipower, set up in 2016, started out selling cauliflower-crust pizza and now offers products including pizza bites and cauliflower-and chickpea-coated chicken. Urban Farmer has been a co-manufacturer for Caulipower.
The financial details of the deal were not disclosed.
In a statement, Urban Farmer said the deal would create a “scaled platform with powerful reach” in the market for “better-for-you” frozen foods.
It added the transaction “unlocks significant synergies amongst two highly complementary portfolios”.
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By GlobalDataUrban Farmer CEO Chris Jaromin added: “Caulipower has transformed how people think about comfort food, Together, we’ll expand our ability to bring nutritious, craveable foods to more tables across the country.”
Caulipower founder Gail Becker will take a seat on the Urban Farmer board. She added: “When I founded Caulipower in 2016, I searched for a co-manufacturer to bring my idea of a frozen cauliflower crust pizza to life. Most turned me down but one said yes – and that was Urban Farmer. How fitting that years after Caulipower disrupted the $6bn frozen-pizza category, our two companies are joining forces again in such a meaningful way.”
Since Caulipower’s formation, the company’s backers have included Boulder Food Group, the US venture-capital firm set up by Tom Spier, the food entrepreneur behind the Evol Foods convenience-foods brand.
Last year, Caulipower hired Super Coffee CEO Tyler Ricks as its chief executive. Ricks had been on the Caulipower board since 2022.
He said: “We believe this combination establishes a clear category leader in better-for-you frozen dough and underscores our long-term conviction in the health and wellness segment of the industry.”
