Riverside Natural Foods, the parent company of MadeGood, has returned to full family ownership after its founding family repurchased the minority stake held by Prelude Growth Partners.
The transaction ends a partnership of more than four years during which MadeGood increased net sales approximately two-and-a-half times and significantly expanded its presence in the U.S.
Prelude Growth was MadeGood’s first outside investor.
The Fotovat family selected the consumer-focused growth equity firm based on a shared vision for the brand and Prelude’s operating experience across food and consumer businesses.
During the partnership, MadeGood expanded its leadership team, entered additional U.S. retail channels, invested in new products and expanded its manufacturing footprint.
MadeGood products are now available through approximately 40,000 retail locations globally, including stores in every U.S. state.
The brand’s Granola Bites have also expanded into additional flavors and account for approximately 50% of new consumer discovery.
MadeGood was launched in 2013 and focuses on organic, allergy-friendly snacks.
The company will now continue its expansion as a fully family-owned business.
KEY QUOTES:
“When we brought on our first outside partner, we were looking for people who believed in what we stood for and understood how to build a food brand the right way. Prelude Growth has been exactly that and we couldn’t have dreamt of better partners. With their support and collaboration, we built out our leadership team, entered new retail partners in the U.S., invested in innovation and scaled our manufacturing footprint. We are deeply grateful for their partnership, and we’re excited to carry that momentum forward.”
Nima Fotovat, Co-Founder of MadeGood
“The Fotovat family have built something rare: an exceptional brand with a clear mission, deeply loyal and passionate consumers and a culture that stayed true to its roots as it has scaled. We’re proud of what we accomplished together and grateful for the trust the family placed in us as their first partner. Returning the Company to full family ownership is a remarkable accomplishment and we look forward to watching what they do next.”
Neda Daneshzadeh, Co-Founder and Managing Partner at Prelude Growth
