The healthful prepared-food chain My Fit Foods LLC has received a minority equity investment from private equity firm TSG Consumer Partners LLC, the company announced Thursday.
Terms of the investment were not disclosed, but TSG officials said the plan is to fund the chain’s expansion into new markets, enhance its brand and promote further development.
Based in Houston, My Fit Foods is a growing chain with about 60 locations that offer healthful pre-portioned meals and snacks to go. The concept was developed by Mario Mendias and Anthony Milton, who opened the first store in Houston in 2006.
My Fit Foods offers breakfast, lunch and dinner, but there is no dine-in option. The goal is for consumers to have access to complete meals with specific nutrition information designed for their health needs. Guest can meet with a nutrition coach in stores, for example, to design specific programs for weight loss or other dietary goals, such as reducing cholesterol, increasing muscle mass or reviving metabolism with meals from My Fit Foods.
“We are delighted to partner with Mario and Anthony in what is an especially exciting and proven successful approach to bring good eating and nutrition to the tables of individuals, including those seeking to control their weight and those desirous of generally improving and maintaining their health,” said Blythe Jack, TSG’s managing director.
Based in San Francisco, TSG manages more than $2.9 billion in equity capital focused exclusively on the branded consumer sector, including several restaurant brands. The private-equity firm was the majority owner of the Yard House casual-dining chain until last year, when TSG sold its stake to Darden Restaurants Inc. for $585 million in cash.
Last year, TSG also made an investment in the Stumptown Coffee Roaster chain, based in Portland, Ore.
The desire by consumers to eat more healthfully has been a driving force for a number of chains in the restaurant industry, including casual-dining concepts Seasons 52 and True Foods Kitchen, as well as smaller fast-casual chains like LYFE Kitchen, Protein Bar, Energy Kitchen and Muscle Maker Grill.
Mendias of My Fit Foods said in a statement, “Having TSG as partners in our company, in addition to capital, will avail us of their vast expertise in branded food and beverage, and especially in the health-and-wellness categories.”