Alliance Consumer Growth Closes $160M Fund V

Brad Avery Jul. 10, 2024 at 3:30 PM

Growth equity investment firm Alliance Consumer Growth (ACG) announced today it has closed on a new, $160 million fund, the company’s fifth. The new fund brings ACG’s lifetime financing to over $1 billion in aggregate capital commitments, the firm said.

Co-founded by managing partners Josh Goldin and Julian Steinberg in 2011, ACG invests primarily in what it calls “rising star” consumer brands across food, beverage, personal care, apparel, pet and more, including both CPG and foodservice concepts. Its current portfolio includes non-alc beer brand Athletic Brewing Co., personal care products maker Harry’s and shapewear manufacturer Skims.

ACG Fund V has already been used to make investments in two new portfolio additions for the firm: Momofuku Goods, the Asian foods business founded by celebrity chef David Chang, joining the brand’s $11.5 million funding round last fall, and skincare company iNNBEAUTY Project.

“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,” Goldin and Steinberg said in a press release. “We’re looking forward to continuing to support promising, entrepreneurial consumer brands to help them grow and thrive in the years to come.”

“Incredibly grateful to the investors who have supported us over many years; to the consumer brand founders who’ve partnered with ACG; and to our amazing ACG team members for their contributions and dedication to our firm,” Goldin added via LinkedIn. “We are excited to continue to partner with consumer entrepreneurs and to help fuel innovative brands in the years to come.”

Realized investments by ACG include Shake Shack (which issued an IPO in 2015), Babyganics (acquired by SC Johnson in 2016), and KRAVE Jerky (acquired by The Hershey Company in 2015).

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

Nosh has reached out to ACG for further comment.