Bansk Group, a consumer-focused private investment firm dedicated to building distinctive consumer brands announced that it has entered into a definitive agreement to acquire Red's All Natural, a growing brand of clean-label frozen burritos and breakfast sandwiches in the U.S.
Terms of the transaction were not disclosed.
Founded in 2009, Red's is a better-tasting clean-label disruptor in the frozen burrito and breakfast sandwich category. It offers more than 20 different high quality frozen burritos and breakfast sandwiches. Its products include simple ingredients with no artificial flavors, colors, or preservatives. Red's products are developed by an industry leading chef and hand-built in small batches at its in-house manufacturing facility in North Sioux City, South Dakota, ensuring consistent quality, superior texture, and enhanced flavor for the ideal consumer experience. Red's products are available at retailers across the U.S., including at Sprouts, Albertsons, Costco, Kroger, Publix, Target, and Walmart.
Following the closing of the transaction, Red's will continue to be led by Founder and CEO Mike Adair, who will also retain a significant minority interest in the business. In partnership with Bansk, the Red's team will invest to increase consumer awareness and trial, expand distribution, and continue to bring exciting, high-quality innovation to the frozen category.
"We are excited to partner with the Red's team and support their next phase of growth," said Brian O'Connor, senior partner and chief investment officer at Bansk Group. "With today's consumers increasingly focused on clean, convenient eating options that offer dynamic flavor profiles, the frozen food market is ripe for disruption and Red's is well positioned to capitalize on significant growth opportunities ahead. As longtime investors in the food and beverage space, we believe brands that achieve superior taste coupled with clean, nutritious ingredients and convenient formats can achieve sustainable long-term brand differentiation, ultimately resulting in winning market share."
Rothschild & Co served as exclusive financial advisor to Bansk Group, and Kirkland & Ellis LLP acted as legal counsel. Houlihan Lokey served as financial advisor to Red's, and Giannuzzi & Lewendon acted as legal counsel.