Harvest Partners SCF, LP Announces Investment in 8th Avenue Food & Provisions, Inc.
Harvest Partners SCF, LP (“HP SCF”), the non-control private equity strategy of Harvest Partners, LP, announced it has made an investment in 8th Avenue Food & Provisions Inc. (“8th Avenue” or the “Company”), which is owned by Post Holdings, Inc. (NYSE: POST) and Thomas H. Lee Partners, LP (“THL”).
8th Avenue was formed in October 2018 through a combination of Post Holdings’ private brands businesses and capitalized by THL. The Company is one of the largest manufacturers of private brand food products, with a focus on organic and conventional peanut and tree nut butters, dry pasta, and organic and non-GMO granola. The Company is a market leader across all of its product categories, and supplies a diversified base of North American food retailers. 8th Avenue is headquartered in Minneapolis, MN and is led by CEO Jim Dwyer.
Sean Murphy, Partner and Co-Head of HP SCF, said, “We are excited to partner with Jim, Post, and THL to support 8th Avenue’s continued growth. The Company has significant organic growth runway within its existing categories, and an attractive opportunity to consolidate a highly fragmented market through additional M&A.”
Additional terms of the HP SCF investment were not disclosed.