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New platform will invest in and foster growth for innovative consumer brands that customers will love
The Kroger Co. and Lindsay Goldberg, a private investment firm that focuses on partnering with families, founders and management teams seeking to actively build their businesses, announced the formation of PearlRock Partners, a new platform that will identify, invest in and help grow the next generation of leading consumer product brands. PearlRock Partners will be one of the largest data-driven investment vehicles focused on consumer brands. The platform will be a part of Kroger’s alternative profit streams portfolio.
To help emerging consumer brands reach new customers and grow their business, the new platform will leverage Kroger’s merchandising capabilities and predictive analytics along with Lindsay Goldberg’s deep consumer expertise and nearly 20-year track record of investing in and supporting family-owned and founder-led companies.
Chris Laitala, a Partner at Lindsay Goldberg, stated: “Our partnership with Kroger creates an opportunity to invest in the consumer products industry with unique insights and a competitive edge. Consistent with our track record of making transformative investments with exceptional industry partners, this strategic relationship with Kroger will provide differentiated sourcing and visibility into evolving consumer preferences and brand performance.”
PearlRock Partners ladders to Restock Kroger, Kroger’s transformational plan to redefine the food and grocery customer experience in America. Through Restock Kroger, the company is leveraging its stores, logistics and data assets to create incremental new profit streams, which, in turn, drive investments to further redefine the customer experience. In this way, Kroger’s new growth model will be a virtuous cycle. The new platform will not only drive new alternate profit streams for Kroger, but will also contribute to the small brand ecosystem, helping emerging brands grow and thrive in Kroger’s stores.