Prelude Growth Partners has sold its minority stake in Riverside Natural Foods to the founding family, returning the company to full ownership. The transaction ends a partnership of more than four years. During Prelude’s ownership, Made Good increased net sales two-and-a-half fold and significantly expanded its presence in the US.
The company built out its leadership team, added new US retail partners, invested in innovation and scaled its manufacturing footprint. Riverside, headquartered in Ontario, Canada, launched Made Good in 2013. The vertically integrated company makes organic, allergy-friendly, non-GMO snacks.
Made Good is sold in 40,000 stores globally, including 35,000 in the US, through retailers such as Costco, Target, Walmart and Whole Foods. Its Granola Bites drive 50 percent of new consumer discovery for the brand.
Source: PE Hub · Summarized by HeadlinesBriefing