Thompson Street invests in Kinneberg Management Group

By Grace Kim

Thompson Street Capital Partners completed a growth investment in Kinneberg Management Group, a retail commerce services provider founded in 2014.

The St. Louis-based private equity firm said the partnership will support KMG’s expansion across major U.S. retail channels. It will also provide resources for technology, employee capabilities and customer relationships. The Minneapolis-based company helps emerging and established consumer brands sell products through major retailers.

What will the growth investment fund?

TSCP said the investment will allow KMG to continue developing its capabilities while it expands its workforce and services. The added resources will support broader national reach and stronger work for existing brand and retail partners.

Founder and CEO Doug Kinneberg will retain a significant ownership stake and continue leading KMG alongside its existing management team. The arrangement is intended to preserve the company’s operating approach while adding investment resources.

Kinneberg said:

“When I started KMG in 2014, my belief was that we would win by providing substantive, high-quality work to our brand and retailer partners.

That philosophy has built a team that hundreds of brands, and the retailers they serve, rely on every day.

Thompson Street understands businesses like ours, and their partnership gives us the resources we need to further invest in our people, expand our capabilities, and drive more success for our clients.”

Kinneberg keeps a significant ownership stake and leadership as KMG enters its next growth phase.

How does KMG serve brands and retailers?

KMG says its service lineup includes:

• Sales representation.
• Account management.
• Category management.
• Retail media support.
• Analytics.
• Strategic growth services.

Its work spans retail execution, from presenting products to buyers and securing shelf space to negotiating commercial arrangements, monitoring inventory availability and supporting marketing programs.

KMG has developed relationships with Target, Walmart, Sprouts and Sam’s Club. It also provides category management directly to retail organizations.

The dual model gives KMG two client groups: consumer brands seeking wider distribution and retailers evaluating product selection and category performance.

Its platform combines retailer relationships with data analysis and operational execution. The goal is to identify opportunities for distribution expansion and product-performance improvement.

The company addresses common obstacles for consumer products entering national retail channels: securing distribution, managing inventories, evaluating promotional spending and maintaining relationships with retail buyers. Its outsourced expertise is intended to support sales growth.

KMG combines shelf-level execution, retailer access and category analysis for brands and retailers.

Why did Thompson Street invest?

TSCP views the transaction as an investment in a founder-led business with established consumer-products relationships. The firm believes KMG’s expertise in retail operations and customer relationships can support expansion into additional brands and retailers.

Dan Cooper, Managing Director at Thompson Street Capital Partners, said:

“Few firms in this industry are trusted by consumer brands and retailers alike.

Doug Kinneberg and the KMG team have earned that differentiated position over many years by consistently delivering best-in-class results.

We look forward to supporting Doug and the team as they continue serving their existing partners and extend KMG’s reach to new brands and retailers.”

Andy Bauer, Vice President at Thompson Street Capital Partners, said:

“KMG is exactly the type of founder-led business we look to partner with at Thompson Street.

We are excited to work with Doug and his team in the next phase of KMG’s impressive growth trajectory.”

Thompson Street focuses on founder-owned middle-market companies across life sciences, healthcare, technology, business services and consumer products. Founded in 2000, the firm reports that it has acquired more than 250 companies and managed over $4.5 billion in assets as of June 30, 2026.

Its strategy calls for working with existing management teams to accelerate organic growth and pursue complementary acquisitions. TSCP said KMG’s founder-led structure and specialized retail services fit that model.

Thompson Street is backing KMG’s founder-led team and its plan for organic growth.

Who advised the transaction?

Craig-Hallum Capital Group served as financial advisor to KMG, while Simon Counsel provided legal advice. Kirkland & Ellis served as legal counsel to TSCP.

Going forward, KMG will use the investment to add staff and services, pursue more brands and retailers and widen its national reach while Kinneberg retains a significant ownership stake.