Bar Keepers Friend, a popular cleaning brand, is getting sold to Forward Consumer Partners

By Abigail Summerville

NEW YORK, March 18 (Reuters) - Investment firm Forward Consumer Partners on Tuesday clinched a deal to acquire SerVaas Laboratories, which is the parent company of the 143-year-old cleaning products brand, Bar Keepers Friend.

The terms of the transaction were not disclosed. Azania Andrews, who previously led 1440 Foods, will take over as the new CEO of Bar Keepers Friend as part of the deal, according to a statement seen by Reuters.

"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," said Matt Leeds, founder of Forward Consumer Partners.

Indianapolis, Indiana-based Bar Keepers Friend sells products that remove rust stains, mineral deposits, tarnish, and other types of stains from a variety of surfaces.

The company traces its roots to 1882 when a chemist called George William Hoffman discovered a cleaning ingredient from the rhubarb vegetable.

Since its founding, the Bar Keepers Friend brand has earned a cult following among cleaners, homeowners, and chefs. Its products were used in some episodes by the characters on the Emmy-winning FX series "The Bear".

Members of the SerVaas family bought the company in 1956, and the family will retain a significant minority stake in the business after the deal.

Forward is a consumer-focused investment firm founded in 2023 by Leeds. The deal for Bar Keepers Friend marks the Greenwich, Connecticut-based firm's sixth deal from its first fund that raised $425 million and its first investment outside the food and beverage industry.