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Kroger to invest in ‘next gen’ CPG brands via deal with private equity firm Lindsay Goldberg

14-May-2019 - Last updated on 15-May-2019 at 14:38 GMT

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Kroger has teamed up with private equity firm Lindsay Goldberg to create PearlRock Partners, a new platform that will identify and invest in promising new CPG brands utilizing insights from its consumer data platform 84.51°.

“One of the largest data-driven investment vehicles focused on consumer brands,” PearlRock Partners will leverage Kroger’s merchandising capabilities and predictive analytics capabilities of 84.51° along with Lindsay Goldberg’s 20-year track record of investing in small companies, said Stuart Aitken, Kroger’s SVP of alternative business and CEO of 84.51°.

“We are transforming from grocer to growth company by deploying our assets to serve even more customers and create margin-rich alternative profit streams.”

Lindsay Goldberg partner Brian Kelley added: “Backed by a state-of-the-art predictive data platform, real-world consumer product expertise and unparalleled merchandising resources, these next-gen brands will be poised for growth and offer Kroger’s broad customer base greater choice, convenience and innovation.”