Forward Acquires Bar Keepers Friend
Forward Consumer Partners ("Forward" or the "Firm"), a private investment firm focused on branded consumer products, today announced that it has acquired SerVaas Laboratories, Inc., makers of Bar Keepers Friend ("BKF" or the "Company"), a trusted brand of highly effective household cleaning products. Paul SerVaas, who has stewarded BKF as President since 2007, and other existing BKF shareholders will retain a significant minority ownership stake in the Company. Paul will also continue his service on BKF's Board of Directors going forward.
BKF was created in 1882 by renowned chemist George William Hoffman. While cooking rhubarb in an old pan, Hoffman saw that his formerly tarnished metal "fairly sparkled" after cooking, and thus discovered the active ingredient which has powered BKF for over a century. After years of experimentation, he perfected a cleaning powder that breaks down rust, tarnish, lime, and many other tough stains at the molecular level. Originally sold to Indianapolis taverns as a brass polish, the product was so effective that bar owners used it for many tough jobs and ultimately named it "Bar Keeper's Friend".
Guided by a commitment to solving problems for its users and staying true to its decades-old motto of "Once Tried, Always Used," BKF has consistently grown net revenue at a double-digit CAGR over the past decade, solidifying its place as a leading brand of household cleaning products. Beloved by chefs, professional cleaners, and homeowners alike, BKF is known for its powerful, science-backed formulations that tackle the toughest cleaning challenges, delivering results where other products fall short.
"In identifying a partner for the next chapter of the BKF story, I knew we needed a team who could support our mission of continuing to build an exceptional business rooted in quality and integrity," said Mr. SerVaas. "Forward shares our vision, our values, and our commitment to excellence. Forward's track record of helping build iconic consumer brands makes them the ideal partner as we continue to strengthen BKF in the future."
Concurrent with the closing, BKF is pleased to announce that Azania Andrews has become the Company's new Chief Executive Officer. Ms. Andrews has built a distinguished career across multiple facets of the branded consumer products landscape, most notably serving as CEO of 1440 Foods (parent of Met-Rx and Pure Protein) and Vice President of Michelob Ultra. Ms. Andrews remarked: "It is a true privilege to join a business that embodies both a legacy of success and incredible future potential. I am eager to build upon the strong foundation that Paul and his team have created so we can drive the BKF brand to new heights, expand the Company's capabilities, and deepen the loyalty of our valued consumers."
BKF marks the sixth investment from Forward's $425 million Fund I, which closed in December 2023. Matt Leeds, Forward's Founder and Managing Partner, has become Chairman of BKF. He remarked: "BKF is the archetypal Forward asset: a powerful brand that makes beloved products, with an enduring track record of success and significant untapped potential. It marks an ideal opportunity to demonstrate our capabilities in categories beyond food and beverage. We could not be more excited to partner with Paul, Azania, and the talented team already in place at BKF. We're grateful to have built this partnership on a fully proprietary basis, and we're honored to be entrusted with the next chapter of the BKF story."
BKF was advised by Lewis Rice. Forward was advised by Kirkland & Ellis.
About Bar Keepers Friend
Founded in 1882, Bar Keepers Friend is a trusted provider of premium household and commercial cleaning solutions. Purchased by Beurt and Cory SerVaas in 1956, Bar Keepers Friend has enjoyed sustained growth through multiple generations of SerVaas family management. Today, the brand is known for its powerful, science-backed formulas that effectively remove rust stains, mineral deposits, soap scum, tarnish, and other tough stains from a variety of hard surfaces. With a legacy of quality and innovation, Bar Keepers Friend continues to be the go-to choice for consumers, professionals, and businesses seeking superior cleaning performance. For more information, please visit barkeepersfriend.com.
About Forward Consumer Partners
Forward is a private investment firm focused on powerful brands that make beloved products. The Firm was created to help build enduring consumer businesses, providing each portfolio company with the partnership, resources, experience, and ambition to make progress toward its potential. Forward manages $425 million of committed capital through its debut fund, which closed in December 2023. The Firm's portfolio includes Kodiak, Firehook, Xochitl, Bar Keepers Friend, Via Carota Craft Cocktails, and more. For more information, please visit forwardconsumer.com.
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