Red Monkey Foods, a portfolio company of San Francisco Equity Partners (SFEP) since January 2017, has acquired specialty salt provider San Francisco Salt Company from founder Lee Williamson.
San Francisco Salt Company is a provider of specialty sea salts including Himalayan salt, Epsom salt and Dead Sea salt products. The company distributes its products through multiple channels to both the gourmet and personal care end markets. Company-owned brand names include San Francisco Salt, Sherpa Pink, Minera, and Epsoak.
All of the company’s products are available in both retail and bulk sizes. San Francisco Salt Company was founded in 2002 and is headquartered near San Francisco in Hayward, CA (www.sfsalt.com).
Red Monkey Foods is a supplier of natural and organic branded and store brand spices, seasonings and other natural dry food products that are sold to food, mass and specialty retailers. The company is certified USDA organic and produces its products in an SQF (Safe Quality Food Institute) level III facility located in Springfield, MO. Red Monkey Foods was founded in 2002 (www.redmonkeyfoods.com).
“San Francisco Salt Company’s products are consistently loved by consumers as evidenced by the company’s impressive growth,” said Scott Bolonda, CEO of Red Monkey Foods. “We look forward to bringing Red Monkey’s substantial distribution, innovation and manufacturing resources to this partnership and to rolling out premium store brand and branded salt programs with our retail partners.”
“San Francisco Salt Company is an ideal acquisition for Red Monkey Foods and we are confident that the Red Monkey team will further accelerate the growth of the company’s products in both the food and personal care markets,” said Scott Potter, Managing Partner of SFEP. “We believe San Francisco Salt Company has a significant opportunity ahead of it and we thank Lee Williamson for entrusting us with the company’s next phase of growth.”
San Francisco Equity Partners makes control and minority investments of $5 million to $25 million in consumer companies that have revenue of up to $100 million and EBITDA of up to $10 million. Consumer sectors of specific interest include apparel; beauty and personal care; food and beverage; health and wellness; household products; outdoor and recreation; pet care; and specialty retail. The firm is based in San Francisco, CA (www.sfequitypartners.com).
New York, London and San Francisco-based investment bank Financo (www.financo.com) was the financial advisor to San Francisco Salt Company on this transaction.
© 2017 Private Equity Professional | December 1, 2017
