Kroger and Lindsay Golberg have formed a partnership called PearlRock Partners to be an incubator for next-generation products. GREG LYNCH/STAFF

Kroger launches new partnership to develop new brands

Kroger is planning to launch new product brands after a partnership with private investment firm Lindsay Goldberg.

The partnership, called PearlRock Partners, will be an incubator for next-generation products, combining Kroger’s expertise in grocery and Goldberg’s data-driven focus on family- and founder-run businesses and management team, according to a statement.

»BIZ BEAT: Here’s how to get a free Coca-Cola and White Castle slider today

PearlRock is part of Kroger’s alternative profit streams portfolio.

“We are excited to add PearlRock Partners to our portfolio of high-growth alternative profit businesses that generate additional value from our core grocery business. We are confident this partnership with Lindsay Goldberg will help discover and cultivate new brands that Kroger customers will love,” said Stuart Aitken, Kroger’s senior vice president of alternative business and CEO of 84.51°. “We are transforming from grocer to growth company by deploying our assets to serve even more customers and create margin-rich alternative profit streams.”

»RELATED: Kroger sells off popular ice cream and tea brand

“We are excited about building a long-term partnership with Kroger,” said Eric Fry, a Partner at Lindsay Goldberg.

PearlRock Partners adds to Restock Kroger, Kroger’s plan to redefine the food and grocery customer experience through its stores, logistics and data assets. Kroger’s new growth model will be a “virtuous cycle,” according to the statement.

FIVE FAST READS

• 2 more area Steak N’ Shake restaurants close

Wendy’s brings back 50-cent frosty as summer approaches

Feeling sad? Mad? Burger King has an unhappy meal for you

Local Burger King restaurant closing at end of month

Here’s how you can win free White Castle for a year

Thank you for reading the Journal-News and for supporting local journalism. Subscribers: log in for access to exclusive deals and newsletters.

Thank you for supporting in-depth local journalism with your subscription to the Journal-News. Get more news when you want it with email newsletters just for subscribers. Sign up here.

X