Los Angeles-based The Real Good Food Co. has announced local investment business Strand Equity has taken a minority stake in the firm.
Real Good Foods (RGF), not to be mistaken for the UK cake decoration and ingredients supplier Real Good Food, operates in the frozen food category, promoting itself as a “disruptor” and “leader in protein-rich, nutrient-dense, real frozen food”.
Created by Josh Schreider in 2016, it “launched a single-serve pizza that offers customers a healthy, high protein, low-carb and grain-free alternative to traditional frozen pizza”.
More recently, the company has rolled out “innovative” new items, including low carbohydrate cauliflower-crust pizzas, snacks, appetisers and Mexican entrees. Its products are sold through most leading retailers as well as online.
Schreider said: “It’s exciting and invigorating to partner with a cutting-edge firm like Strand that both understands the emerging new trends in today’s marketplace and RGF’s commitment to redefining the high protein, low-carb category.”
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Kevin Chen, vice president of Strand Equity, which says it invests in “the next generation of iconic consumer brands”, added: “Real Good Foods is one of the fastest-growing packaged food brands that we have come across in a long time. By delivering natural high-protein, low-carb and low-sugar alternatives to everyday frozen food staples – all without sacrificing taste – RGF is driving innovation in a massive US$50bn category that has been slow to adapt to consumers’ changing preferences.”
Strand Equity’s current and realised investments include Hippeas, Vita Coco, Van Leeuwen Ice Cream and RightRice.
Neither the size of its stake in Real Good Foods nor the price it paid for it have been disclosed.
