My Fit Foods, a prepared-meals concept, has secured an investment from the American Farm Bureau Federation, the company said earlier this week.
“The investment will support My Fit Foods' growth strategy to pursue partnerships with the nation's premier grocery retailers,” the company said in a press release.
The Farm Bureau, a national federation of farmers and ranchers, joins Los Angeles-based Marlin Equity Partners, which took a stake in My Fit Foods last July, as investors in the Austin-based healthful-meals concept.
TSG Consumer Partners LLC, which had invested in My Fit Foods in January 2013, is no longer a backer, a company spokesperson said Thursday.
“The American Farm Bureau Federation is an ideal investment partner for My Fit Foods as Farm Bureau members share our dedication to providing customers with accessible, fresh, high-quality ingredients," said David Goronkin, CEO of My Fit Foods, in a statement.
"This investment positions us to easily expand the availability of My Fit Foods,” Goronkin said, “while working directly with the American farming community."
Julie Anna Potts, executive vice president and treasurer for the American Farm Bureau Federation, said My Fit Foods shared the Farm Bureau’s “mission of making high-quality fresh food available to the American people. This partnership also helps us make another connection between food and our farmers who grow it."
Arlington Capital Advisors advised My Fit Foods on the transaction, the company said.
My Fit Foods has more than 50 locations in five states that offer a range of 60 ready-to-eat meals and snacks. The brand has also been moving into groceries and corporate and college campuses.
Contact Ron Ruggless at [email protected]
Follow him on Twitter: @RonRuggless
