Consumer-focused investor Bansk Group has held a final close of its inaugural fund, Bansk Fund I LP, with $800 million of capital.
Bansk invests from $100 million to $400 million of equity in consumer packaged goods (CPG) brands with specific interest in four sectors: beauty and personal care; consumer health; food and beverage; and household products. CPG products are items purchased by consumers that require regular replacement or repurchase such as food, beverages, household cleaners, toiletries, tobacco, and cosmetics.
Fund I has already invested in four portfolio companies with the buys of Woodstream, a Pennsylvania-headquartered provider of branded pest and animal control, lawn and garden, and electronic animal containment products (2020); Arcadia Consumer Healthcare, a New Jersey-headquartered provider of over-the-counter medicines, vitamins, minerals and supplements (2021); Red’s All Natural, a Tennessee-headquartered provider of branded frozen burritos and breakfast sandwiches (2023); and Bansk Haircare, a portfolio of three brands including amika (2022), Eva NYC (2022), and Ethique (2020).
Bansk’s senior management team is led by a group of executives with decades of CPG-focused investing and operating experience. The firm’s senior partner and chairman, Bart Becht, was previously the CEO of Reckitt Benckiser, a UK-headquartered multinational consumer goods company specializing in health, hygiene, and home products; and Brian O’Connor, the firm’s senior partner and chief investment officer, was previously at Vestar Capital Partners for nearly 20 years. Other partners at Bansk include Chris Kelly, formerly at TPG Growth, and Bill Mordan, formerly at Reckitt Benckiser.
“This is an exciting milestone for our firm, and we are grateful for the tremendous support we’ve received from our investors,” said Mr. Becht. “Our experience enables us to identify differentiated brands in high growth segments of CPG and uniquely positions us to add value post investment, which resonated with investors during the fundraise.”
“The CPG space is an attractive area for investment throughout market cycles as the brands we invest in are typically non-discretionary staples that people buy on a recurring basis,” added Mr. O’Connor. “We are proud of the team we have built at Bansk and are excited about the opportunity ahead of us in Fund I.”
Lazard Frères was the placement agent on this fundraise and Kirkland & Ellis provided legal services.
With the closing of Fund I, Bansk now manages approximately $1.5 billion in assets, including co-investments.
Bansk was founded in 2019 and is based in New York City.
© 2023 Private Equity Professional | July 27, 2023
