September 2021 | Meaningful Partners Announces Strategic Growth Investment in Active Apparel Group
LOS ANGELES, Sept. 30, 2021 /PRNewswire/ — Meaningful Partners LLC (together with certain affiliates, “Meaningful”), a Los-Angeles based private equity firm, announced today the completion of a strategic growth investment in Active Apparel Group (“AAG” or the “Company”), a leading, socially-responsible manufacturer of activewear and swimwear for both leisure/lifestyle and performance markets. Based in Brisbane, Australia with its US office in Los Angeles, CA, AAG proudly offers its customers a strategic end-to-end solution in the development and sourcing of active apparel products.
“Meaningful clearly shares our values and approach to business,” said Paul McCloskey, founder of AAG. “We are grateful to have found the Meaningful team who will support us with the resources to expand our business and better serve our partner brands. The Meaningful team collectively has decades of experience that will help guide AAG into its next phase of growth.”
AAG is committed to delivering cutting-edge, sustainable apparel solutions to its customers while providing its team members with a rewarding culture focused on personal development and teamwork. With multiple decades of experience in performance textile development and an in-depth knowledge of garment engineering and manufacturing, the Company offers an end-to-end suite of solutions for swim and activewear brands spanning product development and fabric sourcing to printing, embellishments and bulk production. AAG’s vertically integrated design, development and manufacturing solution is trusted by leading active and swimwear brands globally. This new investment will enable the Company to accelerate growth and expand its presence in both existing and new markets.
“We are excited by the opportunity to partner with the Active Apparel team in becoming the premier global activewear supplier,” said Jake Capps, Managing Partner at Meaningful Partners. “We look to invest in businesses with proven track records of success, experienced leadership teams committed to positive purpose and significant growth potential. AAG has shown all of these qualities. We look forward to building on this history of success.”
MinterEllison and Buchalter represented Meaningful Partners as legal counsel. AAG was advised by Jones Day on legal matters.
About Active Apparel:
Active Apparel Group is a leading, socially-responsible garment manufacturing group specializing in the production of activewear and swimwear for market leading international brands. The group is headquartered in Brisbane, Australia while the Company supplies to customers throughout the world including the United States, Australia, Europe, China and Canada. Active Apparel Group proudly provides its customers with a strategic end-to-end solution from development, sourcing and manufacturing to global delivery of garments.
About Meaningful Partners:
Meaningful Partners, with offices in Los Angeles, CA and Austin, TX, invests in purposeful consumer businesses that have earned customer trust and loyalty, demonstrate a commitment to all stakeholders and are led by management teams empowering positive purpose and performance. Meaningful Partners makes control and minority investments ranging from $10 million to $50+ million in lower-middle market and high growth companies. The firm is led by an experienced investor and operator management team that leverages an Expert Community of 45+ CEO/Founders and discipline experts with over 800+ years of collective experience who bring relevant domain expertise to help accelerate the growth and impact at our partner companies. More at https://meaningfulpartners.com.
SOURCE Meaningful Partners
September 2021 | Sugarbear Announces Strategic Growth Investment From Nexus Capital And Meaningful Partners
FORT LAUDERDALE, Fla., Sept. 20, 2021 /PRNewswire/ — Sugarbear Vitamin Care (“Sugarbear” or the “Company”), a Fort Lauderdale-based vegan beauty and wellness brand, announced today it has secured a strategic growth investment from an investor group comprised of Nexus Capital Management LP (“Nexus”) and Meaningful Partners LLC (“Meaningful”).
“We embarked on this journey six years ago by launching the first cruelty-free, plant-based ‘Hair Vitamin’ gummy with the goal to disrupt the vitamin industry, and believe it is the right time to bring on institutional partners to help accelerate our growth,” said Nicole Johnson, CEO of Sugarbear. “We are incredibly grateful to have found the Nexus and Meaningful team who support our drive and commitment to first-to-market innovations, premium ingredients and user-friendly customer-focused solutions. Nexus and Meaningful’s leadership team collectively has decades of experience that will help guide Sugarbear into the next phase of its growth. We are excited to get to work and look forward to bringing to market new products the Company has been developing over the last eighteen months.”
Sugarbear specializes in vegan vitamin-based solutions that are made in the U.S.A. with organic and plant-based ingredients. By leveraging its strong reputation for delivering premium, high-quality wellness solutions, Sugarbear plans to expand its product offering from gummies to additional vitamin-infused innovations, delivering a 360-degree approach to beauty and wellness for its customers. This new investment will support the Company’s execution of its strategic vision, including the expansion of its leading market position in hair and other functional supplements, as well as accelerated growth in domestic and international markets.
“We are excited by the opportunity to partner with Nicole and the Sugarbear team in supporting the Company’s continued success and evolution from a category-defining gummy vitamin brand into a more holistic beauty and wellness company,” said Michael Cohen, Partner at Nexus. “Nicole is a true visionary and inspirational founder, and we look forward to our partnership as she continues to redefine wellness/beauty from the inside-out through her innovative products.”
“Nicole and the Sugarbear team’s passion for bringing environmentally-friendly, high-quality products with a repeatable innovation process makes this an exciting partnership,” said Amin Maredia, Managing Partner at Meaningful Partners. “We look forward to supporting Nicole’s vision and bringing our collective operational experience to accelerate growth at Sugarbear.”
Kirkland & Ellis LLP represented Nexus and Meaningful Partners as legal counsel. Sugarbear was advised by Goodwin Proctor LLP on legal matters, and Deloitte Corporate Finance LLC served as exclusive financial advisor to the Company on the transaction.
Sugarbear was founded in 2015 and was immediately successful with the introduction of its first-to-market, iconic blue bear ‘Hair Vitamin’ gummy, which has been the #1 gummy vitamin on Amazon since its Amazon launch in early 2016. Sugarbear has since expanded into Multivitamins and Sleep Vitamins, specializing in vegan, great-tasting and premium complex vitamin formulations that work. Sugarbear products are sold globally and can be found online on Sugarbearhair.com,SugarbearVitaminCare.com, and Amazon.com, as well as in retail stores through partners such as Ulta and Target.
About Nexus Capital Management LP:
Nexus is an alternative asset investment management company based in Los Angeles, California that was founded in 2013. Nexus employs a flexible investment mandate that focuses on long-term value creation by partnering with leading management teams and businesses. More at http://www.nexuslp.com.
About Meaningful Partners:
Meaningful Partners, with offices in Los Angeles, CA and Austin, TX focuses on partnering with purposeful consumer businesses with relevant and specific long-term consumer thematic trends. Meaningful Partners makes control and minority investments ranging from $10 million to $50+ million in lower-middle market and high growth companies, and is led by an experienced investor and operator management team. More at https://meaningfulpartners.com.
SOURCE Sugarbear Vitamin Care
August 2021 | Meaningful Partners closes initial fund at $175 Million
LOS ANGELES, Aug. 5, 2021 /PRNewswire/ — Meaningful Partners LLC (“Meaningful Partners”), a private equity firm based in Los Angeles, California, specializing in the consumer sector, announced the final closing of its debut fund, Meaningful Partners Dedicated Capital Vehicle LP (together with its related vehicles, the “Fund”), with $175 million of capital commitments.
The Fund was oversubscribed and closed above its cap of $150 million. Meaningful Partners secured commitments from a diversified investor group, comprising leading endowments, foundations, family offices and fund of funds. “We are humbled to have earned the trust and support of an exceptional group of sophisticated investors,” commented Jake Capps, Managing Partner of Meaningful Partners. “We are proud to have exceeded our hard cap and most importantly to have an aligned, thoughtful and value-added group of Limited Partners who support our mission to empower positive purpose while achieving best-in-class investment returns.”
Meaningful Partners announced the final closing of its debut fund with capital commitments of $175 Million.
“We are excited to be in a position to help build the companies of tomorrow and serve our partner company management teams by accelerating their growth and performance. Both Purpose + Profit are sacrosanct to us and we believe they are inextricably linked which continues to be proven out through data and outperformance of purposeful businesses,” added Managing Partner, Amin Maredia.
WHR Capital (i) acted as the exclusive placement agent and Buchalter served as legal counsel to the fund.
About Meaningful Partners
Meaningful Partners, with offices in Los Angeles, CA and Austin, TX focuses on partnering with purposeful consumer businesses with relevant and specific long-term thematic trends. Meaningful Partners makes control or minority investments ranging from $10 million to $50+ million in middle market (>$3 million in EBITDA) and high growth companies (>$10 million in revenue with visibility to near-term profitability) in a proven, repeatable and disciplined process, led by an experienced investor + operator management team.
Meaningful Partners has curated a unique 45 person Expert Community with over 800+ years of collective experience across a diverse range of domain expertise and sub sectors within the consumer space. This group adds significant value through sourcing proprietary deal flow, providing real time insights during due diligence and delivering discrete post transaction value creation. All in our Expert Community are investors in the firm.
Jake Capps has been a private equity investor for over two decades with a passion for the consumer sector. Prior to founding Meaningful Partners Jake worked at three large private equity firms. Jake has led or co-led investments in dozens of consumer companies deploying over $1.5bn of equity capital. Jake holds a BA from Dartmouth College and an MBA from Harvard Business School.
Amin Maredia has over two decades of experience working within the consumer sector, primarily as an operator with growth stage, private equity backed and Fortune 1000 companies. Prior to founding Meaningful Partners, Amin served as CEO of Sprouts Farmers Market (NASDAQ:SFM). Over seven years, Amin helped lead the company from $600mm to $5bn in revenues, 4,000 to 30,000 employees and helped execute an initial public offering for the company in 2013. Prior to Sprouts, Amin served in key global strategic roles at Burger King Corporation. Amin attended the Harvard Business School Management Program and has an undergraduate degree from the University of Houston.
(i) WHR Capital is a division of Blue Sand Securities, a FINRA Member.
February 2020 | Meaningful Partners investment in Westrock enables S&D acquisition
Little Rock, AR, – February 28, 2020 – Westrock Coffee Company, LLC today completed its previously announced [https://westrockcoffee.com/blogs/news/westrock-to-acquire-s-d-coffee-tea] agreement to acquire S&D Coffee & Tea from Cott Corporation (NYSE: COT; TSB: BCB). The transaction, valued at $405 million, creates the nation’s leading integrated coffee, tea, and extract company serving retailers, restaurants, convenience stores, commercial accounts, and the hospitality industry.
The newly combined business, Westrock Coffee Company, LLC, operates several US and international subsidiaries. The US-based service providers include Westrock Coffee Roasting in North Little Rock, AR, which supplies branded and private label coffee to global retailers and hotel chains, and S&D Coffee & Tea, in Concord, NC, which is the US market leader in custom coffee roasting and service, tea blends, and extracts. These operating subsidiaries will continue to serve customers under their respective brand names for the foreseeable future and will remain located in their current facilities.
“We are very pleased to complete the transaction on schedule, and our integration process is under way,” said Scott Ford, Westrock Coffee Company co-founder and chief executive officer. “We are focused on creating innovative, quality products for our customers while continuing our combined commitment to delivering superior customer service across the entire supply chain – from crop to cup.”
Westrock Coffee can import, process, roast, grind, and package more than 220 million pounds of coffee annually. The company employs more than 1,700 people globally and is a recognized pioneer in farmer sustainability practices and supply chain traceability.
As CEO, Ford leads the company’s management team, with support from former S&D President and CEO Ron Hinson, now serving as chairman emeritus. Hinson, a 41-year coffee industry veteran, will serve in an advisory role on industry issues, customer support, and product development.
“Our foundation is and will remain coffee, but we intend to continue to lead as the industry morphs beyond traditional hot coffee into cold brews, custom blends, and other extract-based options which appeal to a variety of beverage consumers at home, in restaurants, and across the hospitality industry,” Ford explained. “It’s an exciting time to be part of Westrock Coffee – we are building an even stronger and larger organization, one that is capable of having a meaningful impact on and in the lives of literally, millions of farmers around the world and where there will be a number of opportunities for job and career growth here in the US.”
BBH Capital Partners, a private equity strategy of Brown Brothers Harriman & Co., The Stephens Group, and Meaningful Partners provided acquisition capital, along with Westrock Coffee’s existing investors. Wachtell, Lipton, Rosen & Katz served as legal advisor to Westrock Coffee.
About Westrock Coffee Company
Westrock Coffee Company, LLC is the leading integrated coffee, tea, and extract service provider in the US, providing coffee sourcing and financing, supply chain management, roasting, packaging, and distribution services to retailers, restaurants, convenience stores, commercial accounts, and hospitality customers around the world. With offices in ten countries, the company sources coffee from 25 origin countries and provides service under both the Westrock Coffee and S&D Coffee & Tea brands.