TSG Consumer Partners, a US-based private-equity fund focused on the branded consumer goods market, has opened an office in London as it seeks investment opportunities in Europe.
“TSG’s presence in London deepens its commitment to the European market and enhances the firm’s ability to identify and execute on compelling investment opportunities in the region,” the San Francisco-based investor said in a statement. Its new office is its first outside of the US and is located in Mayfair.
A spokesperson told just-food US$1bn will be allocated for investment in Europe, with food companies included on its radar. In the US, TSG’s previous investments include plant-based protein business Gardein, now owned by Conagra Brands and tortilla chips maker Garden of Eatin’, now under Hain Celestial’s wings.
TSG’s current investments include UK beer maker Brewdog and US drive-thru coffee company Dutch Bros Coffee.
Colin Welch, a partner and managing director at TSG, will run the London office, while Beth Pickens, a former managing director and head of European consumer banking at William Blair, has joined the private-equity fund as a principal investor in the UK capital.
TSG’s founder and chief executive Chuck Esserman said: “Europe represents a dynamic and attractive marketplace with exciting investment opportunities across the consumer and retail spectrum. TSG has a strong track record in Europe, and the size of our business has grown steadily over the past few years. Now with an established office in London, we will be better positioned to collaborate closely with leading brands and their management teams to help them reach their full global potential.”
Founded in 1987, TSG claims to be a pioneer investor focused purely on consumer goods companies. The private-equity firm launched a new fund earlier this year, TSG8, focused on “high-growth” businesses with investments between $200m and $800m. “TSG8 will continue the firm’s long-term investment strategy of seeking to build value by growing both well-established and earlier-stage businesses and brands in consumer industries,” it said at the time of launch.
Welch added: “The addition of a London office further positions us as the partner of choice for consumer companies throughout Europe, particularly those looking to capitalise on cross-border growth opportunities. It also helps us create additional value for our U.S.-based partner companies as they expand their overseas operations.”