Dr. Praeger's Sensible Foods Appoints Andy Reichgut as Chief Executive Officer

ELMWOOD PARK, N.J., July 26, 2022 /PRNewswire/ -- Dr. Praeger's Sensible Foods, a fast-growing brand specializing in delicious, nutritious plant-based frozen foods made from simple ingredients, announced today that seasoned CPG executive Andy Reichgut has been appointed Chief Executive Officer effective immediately. Founder Larry Praeger has moved into a Special Advisor role and will remain an active Board member of the Company. The Praeger and Somberg families will retain their ownership stake in the Company, which is a portfolio company of Vestar Capital Partners.

"Andy is a smart, thoughtful, innovative and resourceful business leader with a deep appreciation for strengthening organizational capability, and a strong track record of building brands and businesses," said Jeffrey Ansell, Dr. Praeger's Chairman and Vestar Strategic Executive Advisor. "I'm excited to work with Andy again, and I'm confident his vast packaged foods experience, including plant-based and better-for-you brands, will set him up for success at Dr. Praeger's. I'd also like to sincerely thank Larry for his incredible vision and passion for the brand, which experienced transformative growth under his leadership. We look forward to his continued contributions as a Special Advisor and active Board member."

Mr. Reichgut is a long-time CPG executive who brings more than 25 years of experience from the packaged food industry. He was most recently General Manager for Violife®, a vegan cheese company owned by Upfield. Prior to Violife®, Mr. Reichgut was Executive Vice President at New Classic Cooking, where he led the Veggies Made Great® business. Under his leadership, the business experienced significant growth fueled by the repositioning of the brand and strong innovation. Mr. Reichgut also has decades of brand management and innovation experience working with leading CPG brands at Pinnacle Foods, Mars and Reckitt Benckiser. He holds a Master's of Business Administration degree from University of Chicago and a Bachelor's of Science degree from Syracuse University.

"Dr. Praeger's is a brand I have admired for many years and am excited and honored to join the organization as its CEO," said Mr. Reichgut. "At a time when consumers are searching for healthier and more environmentally friendly foods, Dr. Praeger's is positioned extraordinarily well to leverage these tailwinds. I look forward to working with the Company's strong leadership team along with our partners at Vestar to fulfill the promise of this business."

"I'm excited to welcome Andy to Dr. Praeger's. His vision, coupled with a phenomenal team who care so deeply for our brand, will continue to bring delicious and healthy plant-based food for generations to come," said Mr. Praeger. "When my father put his name on a veggie burger 26 years ago, he could not have predicted the plant-based revolution that was to come. I am so proud, as I know he would be, of the part Dr. Praeger's has played in bringing delicious, nutrient-dense food to homes all over the country. Dr. Praeger's has truly been able to meet the moment, and I'm confident it will continue to do so in this exciting next chapter."

About Dr. Praeger's

For over 25 years, Dr. Praeger's Sensible Foods has offered delicious and convenient frozen food options for the whole family. Founded by two heart surgeons determined to make healthy food easily accessible. Dr. Praeger's is a leader in the all-natural, vegetarian, vegan, gluten free and kosher frozen food categories and has a wide range of products including Veggie Burgers, Bowls, Cakes, Puffs and Hash Browns, sustainable Seafood items, kids Littles and more. For more information visit www.drpraegers.com.

About Vestar Capital Partners

Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since inception in 1988, Vestar funds have invested $11 billion in 89 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $52 billion. For more information on Vestar, please visit www.vestarcapital.com.

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SOURCE Dr. Praeger’s Sensible Foods