Alliance Consumer Growth has held a first and final closing of Alliance Consumer Growth Fund III, LP at $210 million. The firm did not use a placement agent in raising Fund III.
The new fund was oversubscribed and its limited partners are comprised almost entirely of returning limited partners from the firm’s earlier funds. Alliance Consumer Growth Fund II, LP closed in April 2014 with capital commitments of $90 million. ACG’s debut fund, Alliance Consumer Growth Fund, LP, was launched in 2011 with capital commitments of $44 million.
Alliance Consumer Growth (ACG) specializes in providing growth capital – typically $5 million to $25 million per company – to fast-growing, privately-held consumer, retail and restaurant companies that have revenues of $5 million to $50 million or more. ACG was founded in 2011 by Josh Goldin, Julian Steinberg and Trevor Nelson and has offices in New York and Los Angeles (www.acginvestors.com).
Notable brands that ACG has invested in include: Shake Shack (www.shakeshack.com) which completed an IPO as NYSE:SHAK; Suja Juice (www.sujajuice.com) which was sold to The Coca-Cola Company); KRAVE Jerky (www.kravejerky.com) which was sold to The Hershey Company; EVOL Foods (www.EvolFoods.com) which was sold to Boulder Brands; barkTHINS (www.barkthins.com); Babyganics (www.babyganics.com); PDQ Restaurants (www.eatpdq.com); Tata Harper Skincare (www.tataharperskincare.com); Nudestix (www.nudestix.com); Tender Greens (www.tendergreens.com); and Way Better Snacks (www.gowaybetter.com).
“We’re very proud of what our Fund I and II partner companies have accomplished, and honored by the enthusiastic response we’ve received from investors for our newest fund,” said Mr. Goldin. “We’re looking forward to continuing to partner with the most promising emerging brands to help them grow and thrive in the years to come.”
ACG’s legal advisor was Kramer Levin Naftalis & Frankel (www.kramerlevin.com).
© 2016 PEPD • Private Equity’s Leading News Magazine • 2-26-16
