MISSION
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Our mission is to build and enhance brand equity
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Our mandate is to acquire, manage and grow long-term value in prominent lifestyle consumer brands
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We consider ourselves stewards and guardians of our brands
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As investors, we are partners with and co-owners in our brands; we are not brand representatives or agents
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We take a long-term view of value, recognizing that the majority of our realized value in any brand we own or partner with may be upon an eventual “exit”
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Unlike other potential partners for brands, who may not be focused on long-term value and therefore may have different objectives in growing a brand than its owners, we are not advocates of “brand-slapping” and mere monetization of a brand’s existing value; rather, we build value for an eventual realization
INVESTMENT PHILOSPHY
INDUSTRY FOCUS
At ACP, we “stick to our knitting:” we focus on areas we have either historically invested, significant industry knowledge, or a deep passion:
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Apparel and leisure (lifestyle, luxury, accessories, action sports, footwear)
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Licensing / franchising
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Hard goods (consumer electronics, toys, appliances, office, auto)
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Health, wellness, and nutrition
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Beauty (fragrance, skincare, haircare)
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Food & beverage (FMCG, natural, organic, ethnic, specialty)
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Retail and services (big-box, specialty, leisure/entertainment)
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Direct-to-consumer
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Restaurants (QSR, Casual Dining, etc.) and foodservice
PARTNERSHIP
ACP seeks to partner with superior management teams in driving enterprise growth. We supplement the abilities and reach of our management teams by bringing to bear our industry expertise, operating and strategic resources, and robust network. We also have a deep bench of seasoned operating partners who work directly with our management teams. In extraordinary situations (primarily restarts or turnarounds), ACP’s principals may serve (and have in the past served) as interim management.
GROWTH
Unlike many private equity investors, we typically close our transactions without leverage. We prefer to drive returns
through growth and to recapitalize our companies with debt (if appropriate) at a later date. This gives us both the flexibility to implement operational strategies as well as the liquidity required for growth, acquistions and/or any restructuring initiatives.
TARGET INVESTMENTS
BUSINESS PROFILE
We seek companies with the following characteristics:
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Proven equity-building and value-enhancing management team
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Defensible market position with significant brand equity
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International expansion capacity and appeal
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Franchise value in the product or service supply chain
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Predictable cash flow with low capital requirements
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Scalable platform and core competencies on which to build
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Attractive industry dynamics / secular growth
While we have the ability to be opportunistic about the companies we invest in, we typically invest in one of the following:
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Pure-play brands / intellectual property-driven opportunities
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Founder-run consumer products companies with brands that have a lifestyle angle to them
FINANCIAL CRITERIA
ACP seeks to invest $5 to $50 million of equity in a transaction. We have the willingness and ability to structure larger deals through direct investments by our limited partners and other co-investors. Typically, the companies we take a close look at have a proven history of profitability or near-term visibility to positive cash flow.
TRANSACTION TYPES
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Buyouts
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Recapitalizations
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Growth financings (minority and majority)
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Reorganizations / restructurings (in and out of bankruptcy)
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Trademark “sale-licenseback” transactions
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Joint ventures / partnerships
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