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Personal fairness agency invests in Dr. Praeger’s

Personal fairness agency invests in Dr. Praeger’s

NEW YORK — Vestar Capital Companions, a center market non-public fairness agency, has made a majority development funding in Dr. Praeger’s Smart Meals, a model specializing in plant-based frozen and refrigerated meals.

Phrases of the transaction weren’t disclosed. Larry Praeger, chief govt officer, and Adam Somberg, president, will proceed of their roles and can stay traders in Dr. Praeger’s, Elmwood Park, NJ. Jeffrey Ansell, senior adviser to Vestar, will turn out to be chairman of the board at Dr. Praeger’s.

“The US better-for-you market has by no means been stronger, and we’re excited to associate with an organization that has been on the forefront of this pattern and is aware of the market intimately,” stated Winston Music, managing director and co-head of the patron section at Vestar.

“Larry and Adam have carried out an amazing job constructing the corporate and creating new merchandise that talk to right now’s shoppers: flexitarians, vegetarians, vegans and people who search a more healthy life-style. We stay up for partnering with the Praeger and Somberg households in addition to the senior administration workforce to strategically speed up development.”

Two coronary heart surgeons, Peter Praeger, MD, and Eric Somberg, MD, based Dr. Praeger’s in 1994.The corporate’s merchandise embody meat various burgers, sausages and nuggets in addition to appetizers, snacks, breakfast objects and sides. They’re bought nationwide in shops and on-line.

We’re extraordinarily happy with the excessive development better-for-you meals model our households have constructed,” Larry Praeger stated. “When our fathers co-founded the corporate 25 years in the past, they had been actually innovators. In right now‘s aggressive market, our partnership with Vestar will assist present the monetary backing, trade relationships and class experience to proceed to construct on our momentum.” New York-based Vestar beforehand invested in Easy Mills, a cracker, cookie and baking combine model within the pure and natural channel; Roland Meals, an importer and provider of specialty meals; Nonni’s, a producer of artisanal cookies and different baked meals; and Presence Advertising, a gross sales dealer completely devoted to representing pure and natural meals, beverage and private care manufacturers.

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