July 27, 2018
Brazi Bites, a producer of naturally gluten-free Brazilian-style cheese bread, announced that San Francisco Equity Partners (SFEP) has acquired a majority stake in the Portland-based company. Cascadia Capital, an investment bank serving middle market clients globally, acted as the exclusive financial advisor to Brazi Bites in the transaction. Davis Wright Tremaine provided legal advice to the company in connection with the transaction.
Brazi Bites was born in the kitchen of husband-and-wife entrepreneur team Junea and Cameron using a traditional family recipe for “Pão de Queijo,” a staple Brazilian snack that is wildly popular throughout South America. Brazi Bites emerged as a key player in the food industry’s rapid evolution towards “clean-label,” offering wholesome products that are convenient and delicious. Their product line is available at over 6,000 stores nationwide, including Whole Foods Market, Sprouts, Kroger, Costco, Wegmans, Publix, Target, and Safeway.
“The frozen aisle is undergoing its long-awaited naturalization movement,” said Bryan Jaffe, Managing Director, Cascadia Capital. “Brazi Bites, is one of a small number of brands that is drawing traffic to this section of the store, and it enjoys strong sell-through due to its ability to appeal to a broad demographic across multiple dayparts. We look forward to following the brand through its next phase of growth.”
The partnership between Brazi Bites and SFEP aims to develop new business around the strength of the founding team that has been leading a movement among consumers toward authentic, ethnic, better-for-you frozen food offerings.
The acquisition of Brazi Bites represents another successful transaction with a fast-growing, entrepreneur-led, branded CPG food business for the Cascadia Consumer & Retail team. Recent Cascadia clients in the space include The Rogue Creamery, Tillamook Country Smoker and Bubbies Gourmet Ice Cream & Dessert.