New York -- Private equity firm Oak Hill Capital Partners has acquired an 80% ownership stake in the 25-store natural food chain Earth Fare. The deal values the company at $300 million.
“Earth Fare is well-positioned for expansion given robust consumer demand for natural and organic food, widespread interest in environmental sustainability, and significant market opportunity across the United States,” said Tyler Wolfram, a partner of Oak Hill Capital, in a statement. “We look forward to working closely with Jack Murphy and the rest of the management team to support Earth Fare’s next phase of growth."
Oak Hill is buying the share from Monitor Clipper Partners, which has owned Earth Fare since 2006. Monitor Clipper, along with Earth Fare’s current management team, will retain a minority ownership.