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- Kevin's Natural Foods
Kevin's Natural Foods Acquisition, Valuation, Funding & Investors
Kevin's Natural Foods was acquired by Mars for $810M in July 2023, a 5.8x multiple on $140M of revenue.
Kevin's Natural Foods acquisition price
$810M
Acquired by Mars · Jul 2023
Kevin's Natural Foods revenue at acquisition
$140M
Last twelve months · Jul 2023
Kevin's Natural Foods revenue multiple at acquisition
5.8x
EV/Revenue · Jul 2023
Key investors in Kevin's Natural Foods
TowerBrook Capital Partners
NewRoad Capital Partners
Kevin's Natural Foods Overview
About Kevin's Natural Foods
Kevin's Natural Foods is a Chicago-based manufacturer of clean-ingredient, ready-to-eat meals using antibiotic-free meats and organic vegetables. Offerings include vacuum-sealed entrees like Thai sweet chili chicken, roasted garlic beef, and vegetable sides, prepared in minutes. The company also produces sauces such as gochujang and lemongrass coconut. Products target paleo, keto, and gluten-free consumers through retail channels including Whole Foods and Amazon.
Founded
2014
HQ
Website
Status
Acquired
Customer focus
B2C
Revenue model
Product sales
Revenue
$140M (Jul 2023)
Valuation
$810M (acquired Jul 2023)
Sectors
Kevin's Natural Foods Acquisition
Kevin's Natural Foods was acquired by Mars for $810M on 5 July 2023.
The acquisition price implies a 5.8x revenue multiple on $140M of revenue.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 5 Jul 2023 | PE buyout | $810M | 5.8x |
Kevin's Natural Foods Funding History
Kevin's Natural Foods has raised 1 funding round.
| Date | Stage | Investors | Deal Summary |
|---|---|---|---|
| Sep 2021 | Undisclosed stage | TowerBrook Capital Partners (lead); NewRoad Capital Partners (lead) | Kevin's Natural Foods announced on 3 September 2021 a minority investment from TowerBrook Capital Partners and NewRoad Capital Partners. Financial terms were not disclosed and the founders retained control of the business. The capital was intended to support the brand's expansion in refrigerated prepared foods, where it sells chef-inspired sous-vide entrees, sides and sauces made from whole-food ingredients. Kevin's Natural Foods is based in Modesto, California and distributes through national grocery and club retailers. The company became a Certified B Corporation in February 2023. Both minority investors exited in July 2023 when Mars agreed to acquire the company. |
Who has invested in Kevin's Natural Foods?
2 investors have backed Kevin's Natural Foods across its funding rounds, including TowerBrook Capital Partners and NewRoad Capital Partners.
Lead investors include TowerBrook Capital Partners and NewRoad Capital Partners.
Kevin's Natural Foods Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 2 Kevin's Natural Foods investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialKevin's Natural Foods Competitors
Kevin's Natural Foods competitors include listed companies like Frosta, Agrana Beteiligungs, Efor Cay and Standard Foods, and private ones like Country Delight and Athletic Brewing.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $785M | $81M | $811M | - | ||
| Publicly listed | $3.7B | $120M | $813M | 0.4x | ||
| Publicly listed | $253M | $12M | $814M | - | ||
| Publicly listed | $875M | $67M | $804M | - | ||
| Private | $148M | - | $820M | 5.5x | ||
| Private | $90M | - | $800M | 8.9x |
Kevin's Natural Foods Public Comps
Kevin's Natural Foods is no longer listed, but its public comps include Frosta, Agrana Beteiligungs, Efor Cay, Standard Foods, Acomo, Neto Malinda Trading, Edita Food Industries, John B. Sanfilippo & Son, Baladi and Hilton Food Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $785M | $81M | 0.9x | - | 8.9x | - | |||
| $3.7B | $120M | 0.4x | 0.4x | 11.9x | 6.2x | |||
| $253M | $12M | 3.4x | - | 71.8x | - | |||
| $875M | $67M | 0.8x | - | 11.1x | - | |||
| $1.7B | $147M | 0.7x | 0.7x | 8.3x | 8.7x | |||
| $1.7B | $123M | 0.5x | - | 7.4x | - | |||
| $401M | $81M | 2.1x | 1.8x | 10.6x | 8.5x | |||
| $1.2B | $119M | 0.8x | 0.8x | 7.5x | 7.6x | |||
This data is available for Pro users. Sign up to see all Kevin's Natural Foods competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kevin's Natural Foods
| When was Kevin's Natural Foods founded? | Kevin's Natural Foods was founded in 2014. |
| Where is Kevin's Natural Foods headquartered? | Kevin's Natural Foods is headquartered in Stockton, CA, United States. |
| Is Kevin's Natural Foods publicly listed? | No, Kevin's Natural Foods was acquired by Mars in July 2023. |
| Who acquired Kevin's Natural Foods? | Kevin's Natural Foods was acquired by Mars in July 2023. |
| How much was Kevin's Natural Foods acquired for? | Kevin's Natural Foods was acquired for $810M in July 2023, a 5.8x revenue multiple. |
| What was Kevin's Natural Foods' last funding round? | Kevin's Natural Foods' last funding round was a undisclosed-stage round in September 2021, led by TowerBrook Capital Partners and NewRoad Capital Partners. |
| Who are Kevin's Natural Foods' investors? | Kevin's Natural Foods' investors include NewRoad Capital Partners and TowerBrook Capital Partners. |
| Which companies are comparable to Kevin's Natural Foods? | Companies comparable to Kevin's Natural Foods include Frosta, Agrana Beteiligungs, Efor Cay, Standard Foods, Country Delight and Athletic Brewing. |
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