Q&A With HM Capital’s Andrew Rosen on Earthbound Farm
After yesterday's post on HM Capital's investment in organic food business Earthbound Farm, I spoke with HM partner Andrew Rosen for more color on the industry, his firm's investment thesis and the company's plans for growth. To recap, HM Capital invested an undisclosed amount of capital into Earthbound Farm, securing $135 million in debt funding from RBC Capital Markets. The stake size was not disclosed, but HM Capital historically acquires majority positions. How did HM Capital find the company? What's attractive about a farming business? We've been investing in food for around 20 years. We've done close to $6 billion worth of deal value and across a host of sectors. Food is something that's core for us. It's also something we're very selective about, but we get excited about the sector. Earthbound Farm is by far the market leader within organics. We were looking at the value-added produce sector for going on five years. We've been in a dialogue with Earthbound Farm for over 2 years.
