Red Monkey Foods, a US manufacturer of own-label organic spices and seasonings, has sold a majority stake in its business to private-equity firm San Francisco Equity Partners.
Missouri-based Red Monkey Foods supplies store-brand products to “many of the nation’s largest food, mass and specialty retailers”, San Francisco Equity Partners said.
Scott Potter, managing partner at San Francisco Equity Partners, said, there was a “large growth opportunity in front of the company.”
Potter added: “Red Monkey Foods is at the intersection of two clear trends in the food industry: the rise of gourmet store brand programmes and the continued growth of organic products in numerous categories. The company has experienced tremendous growth in recent years, bringing on new retail partners and expanding to additional premium dry food categories such as seasoned ancient grains.”
Founder and CEO Jeff Brinkhoff is to remain with the business, which is located in Springfield in Missouri.
Financial details were not disclosed.