BFG Partners Completes Sale of Birch Benders to Sovos Brands

BFG Partners, a venture capital firm specializing in early-stage food, beverage and consumer products, completed the sale of Denver-based Birch Benders, to Sovos Brands, a food company backed by private equity firm Advent International. 

Birch Benders offers better-for-you pancake mixes, frozen waffles and baking solutions for consumers of all ages. Birch Benders is led by founders, Matt LaCasse and Lizzi Ackerman, who started the brand eight years ago as a healthy and easy solution to breakfast on their camping trips. Today, Birch Benders is the fastest growing pancake and waffle brand in grocery and their products can be found in stores nationally as well as online.

“Working with Matt, Lizzi and the Birch Benders team for the last six years has been rewarding both personally and professionally. We were lucky to partner with Birch Benders as a very early-stage company and have been impressed by their brand vision, thoughtful innovation and the ability to champion an exceptional leadership team,” said Tom Spier, Founder and Managing Partner of BFG Partners. “We are thrilled to have Sovos Brands on board to further Birch Benders’ mission to fill consumer’s days with stacks of fun.”

Since partnering with BFG in early 2015, monthly sales for Birch Benders have increased more than 100 times as its product set expanded from five pancake mix SKUs to more than 20 SKUs across three grocery categories. Birch Benders grew 139 percent year-over-year as of July.

Additionally, the company grew from three employees at the time of BFG’s first investment to nearly 30 today.