NEW YORK, NY, North Castle Partners and Kettlebell Kitchen jointly announce today that Kettlebell Kitchen has closed on a $26.7M Series B growth equity round of financing.
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The round was led by North Castle, a leading private equity firm focused on consumer businesses that promote healthy, active and sustainable living. Kettlebell Kitchen is a nationwide provider of healthy prepared meals and custom meal plans designed to assist consumers in achieving their fitness, nutrition, sports performance and weight loss goals.
Launched in 2013 by Joe Lopez-Gallego, Greg Grossman and Andy Lopez-Gallego, Kettlebell Kitchen produces and distributes freshly prepared meals, primarily through a vast network of gym partners, providing consumers with a convenient pickup location, as well as through direct- to-door delivery, nationwide.
"We are proud to partner with Joe, Greg, Andy, and the entire Kettlebell Kitchen team," said North Castle Managing Director Jon Canarick. "Kettlebell Kitchen is one of the most attractive and innovative businesses we have seen in the meal delivery industry. The company's high quality and nutrient-dense meals, brand positioning, unique distribution model, and goal driven, solution-based approach, differentiates its prospects in a crowded category."
Kettlebell Kitchen uses customer demographic, activity, and dietary preference information to calculate and recommend meal plans specific to consumers' goals.
"Providing consumers with better-for-you nutrition options is vital to North Castle's mission to build industry leading companies in the healthy, active, and sustainable living markets. The foundation of the North Castle approach is to partner with exceptional management teams, and we are thrilled to welcome Joe Lopez-Gallego, Greg Grossman, and the entire Kettlebell Kitchen team to the North Castle family," said North Castle Managing Partner Chip Baird.
The company launched nationwide delivery in 2017, and within the past several years, Kettlebell Kitchen has quickly grown throughout the Northeast, Midwest, and Mid-Atlantic regions. Kettlebell has since opened a state-of-the-art facility in Los Angeles, CA, to continue to pave the way for growth.
"We are very excited to begin our partnership with North Castle," said Kettlebell Kitchen CEO and Co-Founder Joe Lopez-Gallego. "We believe that North Castle's focus on outsized performance, while maintaining the highest standards of integrity and partnership, is what makes them the ideal partner for us, and we are thrilled to have Chip, Jon, and the rest of the team involved in our company."
Kettlebell Kitchen provides meals curated by a team of chefs, dietitians and nutritionists that are designed to fit within the guidelines of numerous diet regimens including paleo, vegetarian, low- carb, protein-forward, ketogenic, Whole30, and more, while being free of gluten, wheat, dairy, soy, GMOs, artificial ingredients and sweeteners, and processed oils.
"We look forward to leveraging the firm's knowledge, experience and strong network of nutrition and fitness industry experts on our mission to functionally enhance our customers' lives through high-quality, goal-focused meal plans and nutrition. We believe North Castle's vast network across the weight loss, nutrition and fitness industries will be an invaluable resource as we continue our rapid growth trajectory. It has been a pleasure working with the North Castle team thus far, and we are excited for an incredible partnership," said Kettlebell Kitchen President and Co-Founder Greg Grossman.
Consumer and retail focused investment bank Consensus advisors (www.consensusadvisors.com) served as investment bankers to Kettlebell Kitchen on this transaction. Consumer Food and Beverage Law Firm The Giannuzzi Group, LLP (www.GGlaw.us) served as legal counsel to Kettlebell Kitchen. Morrison Cohen LLP (www.Morrisoncohen.com) served as legal counsel to North Castle Partners.
About North Castle Partners
North Castle Partners is a leading private equity firm focused on investments in consumer- driven product and service businesses that promote healthy, active, and sustainable living. North Castle is a hands-on, value-added investor in high-growth, middle-market companies in the (i) beauty & personal care, (ii) consumer health, (iii) fitness, recreation & sports, (iv) home & leisure and (v) nutrition sectors, among others.
North Castle's current portfolio includes well-known brands such as Jenny Craig, Barry's Bootcamp, HydroMassage, Strengthen Lengthen and Tone, Sprout Organics, SmartyPants, Brooklyn Boulders, and Turnbridge. Prior portfolio company holdings include Atkins Nutritionals, Contigo, Curves International, Doctor's Best, Octane Fitness, Cascade Helmets, Mineral Fusion, Bora-Bora Organic Foods, gloProfessional, Equinox Fitness, EAS, Enzymatic Therapy, CRC Health Group, Doctor's Dermatologic Formula, Naked Juice Company, Flatout Flatbread, and Avalon Organics / Alba Botanicals.
North Castle partners with management to bring a wide range of strategic and operational capabilities to build world-class companies by unlocking the exponential power of full potential partnerships. North Castle is headquartered in Greenwich, CT. For more information, visit www.northcastlepartners.com.
About Kettlebell Kitchen
Kettlebell Kitchen offers meals that are designed by nutritionists, prepared by chefs, and conveniently delivered right to your gym or home. The company was founded in 2013 by two brothers and a chef with a mission to help people change their lives through food. KBK's meals are made from whole, real ingredients that are free of gluten, dairy, soy, and artificial sweeteners. The company's personalized meal plans ensure that your body gets the nutrients it needs to achieve your goal, no matter if that's muscle gain, fat loss, or endurance. Kettlebell Kitchen's food is available for pick up in more than 1,000 locations as well as for nationwide delivery.