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San Francisco Equity Partners (SFEP), a private equity firm focused on growth consumer goods companies, is taking a majority stake in frozen ‘cheese bread’ brand Brazi Bites, according to a report in Project Nosh.
With a reported revenue of $8.5 million, Brazi Bites specializes in Brazilian-style ‘cheese bread’ which it distributes to stores across the US in Cheddar & Parmesan, Garlic Asiago, Zesty Pepper Jack and 3 Cheese Pizza flavours. The product is designed to accompany main meals, to be eaten as a snack or else to be served as a party appetizer.
The investment is reportedly to be geared towards entering new retailers, growing the product line and expanding into other ‘Latin American’ categories.
Commenting on the deal, SFEP managing partner Scott Potter said: “We have a broader thesis around the reinvention of the freezer. Clearly clean-label, better-for-you has permeated every aisle and every category of the store, with the frozen aisle being the last one to go through that transformation. But for the first time, we’re seeing growth in frozen and it’s being led by these better-for-you brands”.
Source: Project Nosh
