Riverside Natural Foods, MadeGood’s parent company, returned to full family ownership after its founding family repurchased the minority stake Prelude Growth Partners held.
Prelude Growth became MadeGood’s first outside investor and partnered with the company for more than four years.
During the partnership, MadeGood increased net sales by about 2.5x and significantly expanded its U.S. presence.
The company also expanded its leadership team, added U.S. retail relationships, invested in product innovation, and increased manufacturing capacity.
MadeGood is now available through approximately 40,000 retail locations globally, including stores in every U.S. state.
Its Granola Bites products account for approximately half of new consumer discovery for the brand.
MadeGood is available in approximately 35,000 U.S. stores, including Costco, Target, Walmart, Whole Foods, Kroger, and Sprouts.
The brand was launched in 2013 and focuses on organic, allergy-friendly, non-GMO snack products.
Prelude Growth specializes in partnering with founder- and family-owned consumer businesses and typically invests between $15 million and $100 million per company.
The repurchase ends Prelude Growth’s investment and returns Riverside Natural Foods entirely to the Fotovat family’s ownership.
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.”
Nima Fotovat, Co-Founder of Riverside Natural Foods
“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.”
Neda Daneshzadeh, Co-Founder and Managing Partner at Prelude Growth Partners
