Bansk Group to Acquire Majority Interest in Red’s, a Clean Label Frozen Burrito and Breakfast Sandwich Brand
Positions Fast-Growing Brand to Increase Market Share, Expand Organization, and Deliver Innovative Products in a Category Ripe for Disruption
New York, December 15, 2022
– Bansk Group (“Bansk”), a consumer-focused private investment firm dedicated to building distinctive consumer brands, today announced that it has entered into a definitive agreement to acquire Red’s All Natural (“Red’s”), a rapidly growing brand of clean-label frozen burritos and breakfast sandwiches in the U.S. Terms of the transaction were not disclosed.
Founded in 2009, Red’s is a better-tasting clean-label disruptor in the frozen burrito and breakfast sandwich category. It offers more than 20 different high quality frozen burritos and breakfast sandwiches. Its products include simple ingredients with no artificial flavors, colors, or preservatives. Red’s products are developed by an industry leading chef and hand-built in small batches at its in-house manufacturing facility in North Sioux City, South Dakota, ensuring consistent quality, superior texture, and enhanced flavor for the ideal consumer experience. Red’s products are available at retailers across the U.S., including at Sprouts, Albertsons, Costco, Kroger, Publix, Target, and Walmart.
Following the closing of the transaction, Red’s will continue to be led by Founder and Chief Executive Officer Mike Adair, who will also retain a significant minority interest in the business. In partnership with Bansk, Mike and the Red’s team will invest to increase consumer awareness and trial, expand distribution, and continue to bring exciting, high-quality innovation to the frozen category.
“We are excited to partner with the Red’s team and support their next phase of growth,” said Brian O’Connor, Senior Partner and Chief Investment Officer at Bansk Group. “With today’s consumers increasingly focused on clean, convenient eating options that offer dynamic flavor profiles, the frozen food market is ripe for disruption and Red’s is well positioned to capitalize on significant growth opportunities ahead. As longtime investors in the food and beverage space, we believe brands that achieve superior taste coupled with clean, nutritious ingredients and convenient formats can achieve sustainable long-term brand differentiation, ultimately resulting in winning market share.”
“I am incredibly proud of how far we have come – and how many consumers across the country we’ve reached since Paige, Red (our loyal and trusted dog), and I started the business 13 years ago,” said Mr. Adair. “We look forward to leveraging Bansk’s deep understanding of our space and operational expertise to accelerate Red’s next phase of growth. Bansk’s support is a testament to the strength of our business, the caliber of our people, the quality of our products, and the opportunity ahead, and we are excited to bring our delicious, clean products to more consumers nationwide.”
Rothschild & Co served as exclusive financial advisor to Bansk Group, and Kirkland & Ellis LLP acted as legal counsel. Houlihan Lokey served as financial advisor to Red’s, and Giannuzzi & Lewendon acted as legal counsel.
About Bansk Group
Founded in 2019, Bansk Group is a New York-based private investment firm focused on investing in and building distinctive consumer brands. The firm partners with differentiated brands across four primary consumer categories: beauty & personal care, consumer health, food & beverage, and household products.
Bansk's tenured group of investors and operators have invested more than $30 billion of equity capital across more than 40 transactions with some of the most innovative and well-known consumer companies in the world. With more than three decades of investment experience in the consumer products industry, a global network of relationships, and a tested value creation playbook, Bansk seeks to partner with exceptional founders and management teams to drive outsized organic and acquisitive growth and to position brands for enduring long-term success in the evolving consumer landscape.
About Red’s All Natural
Red’s is a leading brand in the clean-label frozen food category and is one of the fastest growing natural frozen food brands in the United States. Red’s was founded in 2009 by Mike Adair and is named after Mike’s shelter dog, Red.
Woomi Yun / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
Red’s All Natural
Andy van Ark
VP of Marketing