1. News
May 15, 2019

Kroger and Lindsay Goldberg announce consumer brands partnership

American supermarket chain Kroger, in collaboration with private investment firm Lindsay Goldberg, has established a new platform, PearlRock Partners.

American supermarket chain Kroger and private investment firm Lindsay Goldberg have partnered to launch PearlRock Partners, a new platform designed to identify, invest in and grow the next generation of leading consumer product brands

The platform will become a part of Kroger’s alternative profit streams portfolio and will use Kroger’s merchandising capabilities and predictive analytics, combined with Lindsay’s consumer, and investment expertise.

“We are excited to add PearlRock Partners to our portfolio of high-growth alternative profit businesses.”

Kroger alternative business senior vice president Stuart Aitken said: “We are excited to add PearlRock Partners to our portfolio of high-growth alternative profit businesses that generate additional value from our core grocery business.

“We are confident this partnership with Lindsay Goldberg will help discover and cultivate new brands that Kroger customers will love. We are transforming from grocer to growth company by deploying our assets to serve even more customers and create margin-rich alternative profit streams.”

PearlRock Partners will drive new alternate profit streams for the supermarket chain, as well as help emerging brands to grow in the company’s stores.

The new platform also connects to the supermarket chain’s existing Restock Kroger programme. Restock Kroger was created to redefine food and grocery customer experience in the US and generate incremental new profit streams, by leveraging its stores, logistics and data assets.

Lindsay Goldberg partner Brian Kelley said: “Backed by a state-of-the-art predictive data platform, real-world consumer product expertise and unparalleled merchandising resources, these next-gen brands will be poised for growth and offer Kroger’s broad customer base greater choice, convenience and innovation.”