Alliance Consumer Growth Closes Fifth Fund

Growth equity backers of Shake Shack, Athletic Brewing, SKIMS, Milk Makeup & Harry's announce latest fund

NEW YORK and LOS ANGELES, July 10, 2024 /PRNewswire/ -- Alliance Consumer Growth ("ACG"), a leading consumer-focused growth equity investment firm, announced the closing of Alliance Consumer Growth Fund V, L.P., ("ACG V") with $160 million in commitments. With the close of this latest fund, ACG has raised over $1 billion in aggregate capital commitments since the firm's founding in 2011. ACG V will follow the same investment strategy of ACG's prior funds, focusing on fast-growing, "rising star" brands in the food, beverage, personal care, beauty, pet and apparel categories. ACG Fund V has already made investments in fast-growing skincare brand iNNBEAUTY Project and David Chang's Momofuku Goods.

Since 2011, ACG has invested in many notable emerging consumer brands as a growth equity partner. To date, 17 of ACG's partner brands have gone on to subsequent exit events. Some of ACG's past and current investments include Babyganics (acquired by SC Johnson), SKIMS, Shake Shack (completed an IPO on NYSE), OUAI Haircare (acquired by Procter & Gamble), barkTHINS (acquired by Hershey), Harry's Inc., Suja Juice (acquired by Coca-Cola), Milk Makeup (acquired by Waldencast), Tata Harper Skincare (acquired by Amorepacific), KRAVE Jerky (acquired by Hershey), The Honest Kitchen (recapitalized by Monarch Capital) and Athletic Brewing Company (recapitalized by General Atlantic), among others.

"We're very proud of our current and past partner brands, grateful to our ACG team, and thrilled and honored to have many terrific and supportive limited partners in Fund V," said ACG co-founders Josh Goldin and Julian Steinberg. "We're looking forward to continuing to support promising, entrepreneurial consumer brands to help them grow and thrive in the years to come."

In 2015 ACG was named as the top consumer-retail focused firm in GrowthCap's listing of America's "Top Growth Equity Investment Firms" and ACG's co-founders were named to Fortune Magazine's "40 Under 40" list of the most influential young people in business. In 2018 ACG was recognized as one of America's "Top 50 Private Equity Firms in the Middle Market" by Grady Campbell Inc. In 2022, ACG was named as the "Top Growth Investor in Beauty" by Beauty Independent.

Willkie Farr & Gallagher LLP served as legal advisor for ACG V; and Aqueduct Capital Group served as placement agent for ACG V. 

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SOURCE Alliance Consumer Growth