NextWorld Evergreen, a San Francisco-based private equity firm, has acquired Alter Eco, a chocolate-centric, healthy-indulgence confectionery brand.
Alter Eco, also based in San Francisco, offers premium organic snacks such as clusters, chocolate bars and truffles in the United States, Canada, and Australia. The 12-year-old company’s products are made with USDA-certified organic, Non-GMO Project-verified and Fair Trade-certified ingredients sourced from farmer cooperatives around the world.
“We are excited to partner with the outstanding management team at Alter Eco, which has built a remarkable company based on a set of values and amazing-tasting products, while succeeding in being good stewards of the world we live in,” said NextWorld Evergreen Partner David Fife. “We see tremendous opportunity to accelerate the company’s growth while taking very seriously our stewardship of the Alter Eco brand.”
Edouard Rollet and Mathieu Senard, Alter Eco co-founders and co-ceos, as well as President Kate Tierney, will remain at the helm of the company, leading all strategic growth, mission-based ingredient sourcing and impact programs.
“This change of ownership, from impact funds to an evergreen fund, is an excellent and logical evolution for Alter Eco, a leading fair trade pioneer and top-ranked B corporation,” Rollet said. “Thanks to NextWorld Evergreen’s long-term vision and philanthropic affiliations, we’ll be able to continue to grow our impact and preserve our mission while benefiting from NextWorld Evergreen’s experience in consumer goods to accelerate Alter Eco’s growth in the indulgent, clean, healthy and ethical food space.”
Alter Eco’s approach combines grassroots sourcing and marketing with a dedication to quality and transparency. The company’s previous growth financing came from impact investors, initially led by Social Venture Network founder Josh Mailman, looking to align capital and strong values. For the current acquisition, Michel Dyens & Co. acted as financial advisors to the sellers.