San Francisco-based private equity firm TSG Consumer Partners has appointed former AEA Investors veteran John Kenney as a managing director and partner of the firm.
Kenney worked for New York-based AEA Investors for ten years, where he co-headed the private equity firm’s consumer product and retail investment unit.
Kenney assisted on AEA’s $180 million acquisition of Burt’s Bees in 2003, the natural cosmetics company. After tripling its sales under AEA’s ownership, Burt’s Bees was ultimately sold to Clorox for $925 million last year.
Before joining AEA, Kenney was a principal in the North American corporate investment team at Investcorp
International. Kenney also worked in the consumer products and retail space for Lazard’s private equity vehicle, Centre Partners.
Kenney will work out of TSG’s New York office alongside TSG founder Alex Panos, where he will supervise the East Coast origination activities for the firm.
TSG typically invests in mid-market branded consumer companies. Some of the firm’s more notable investments in the past include Famous Amos Chocolate Chip Cookies, Glaceau vitaminwater and Smart Balance Foods.
In January of last year, the firm closed its fifth fund on $875 million. The company has exited six portfolio companies in the last 26 months, with the combined enterprise values of the six companies increasing tenfold from time of purchase to exit, according to a statement from the firm.