Kroger, Lindsay Goldberg partner to form PearlRock Partners
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. "We are excited to add PearlRock Partners to our portfolio of high-growth alternative profit businesses that generate additional value from our core grocery business. We are confident this partnership with Lindsay Goldberg will help discover and cultivate new brands that Kroger customers will love," said Stuart Aitken, Kroger's senior vice president of alternative business and CEO of 84.51 degrees . "We are transforming from grocer to growth company by deploying our assets to serve even more customers and create margin-rich alternative profit streams."