feel are uniquely positioned to capitalize on those trends and, most importantly, help these brands scale by providing very hands-on strategic, operating, and financial resources. We are equally comfortable partnering with existing management teams or bringing in additional resources to accelerate growth and support operations, and we are not afraid to roll up our sleeves to play key executive roles ourselves.

We seek opportunities to build category leaders in partnership with world-class management teams, with a focus on the food, beverage, personal care, fitness and pet verticals. We engage in a combination of incubating brands ourselves, making minority investments in existing brands, and purchasing controlling stakes in existing, cash-flow positive brands. Our assessment of prospective opportunities typically begins with a thorough look at the category size, growth trends, and competitive landscape. We then look for high-growth brands that have compelling sales velocities, or opportunities to incubate new brands where we feel that we can create a sustainable source of meaningful differentiation ourselves. Gross margins are particularly important to us, as we truly believe in building profitable businesses and want the ability to continually invest in sales and marketing to build our brands.