- Sheppard Mullin advises Kevin’s Natural Food
- TowerBrook Capital Partners taps long-time adviser Kirkland
- Hogan Lovells supports repeat client NewRoad Capital Partners
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(Reuters) – Healthy packaged meal company Kevin’s Natural Foods, advised by Sheppard, Mullin, Richter & Hampton, has secured an investment for an undisclosed amount from TowerBrook Capital Partners LP and NewRoad Capital Partners.
Investment firms TowerBrook and NewRoad are working with Kirkland & Ellis and Hogan Lovells, respectively. Towerbrook and NewRoad injected the capital into Kevin’s as investors look to cash in on consumers’ interest in healthier foods.
Kirkland corporate partner W. Brian Raftery is heading the team advising TowerBrook.
The transaction continues TowerBrook’s long-standing relationship with Kirkland. The firm previously advised TowerBrook on its investment in business consulting company Eisner Advisory Group, according to an August firm press release.
The Hogan Lovells team supporting NewRoad is led by corporate and finance partner Mark Heimlich. Heimlich has represented NewRoad on its investments in physical therapy services provider Bardavon Health Innovations, freight logistics enterprise Emerge and technology company Platform Science.
For TowerBrook and NewRoad’s latest investment, Kevin’s financial adviser is Wells Fargo Securities LLC.
Launched in 2019, Kevin’s produces refrigerated entrees, sides, sauces and seasonings without refined sugar or artificial ingredients that can be found at stores such as Whole Foods, Target and Giant. The company is based in Modesto, California.
The investment news follows exactly a month after PepsiCo Inc said that it was selling juice brands including Tropicana and Naked to expand its health-focused snacks and zero-calorie beverage offerings.
Gibson, Dunn & Crutcher is PepsiCo’s lead counsel on the transaction, with Davis Polk & Wardwell providing tax and antitrust advice. Willkie Farr & Gallagher is guiding the buyer, PAI Partners, while Latham & Watkins serves as PAI’s financing counsel.
Sierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes. Reach her at email@example.com