Catalina Finer Foods Acquires Saugatuck Kitchens

Consortium Led by Midwest Growth Partners and Farragut Invests in Catalina Finer Foods

February 24, 2022

Food & Beverage

Midwest Growth Partners, alongside Farragut Capital Partners, Spring Capital Partners, Gemini Investors, Lake Country Capital, SharpVue Capital and Promise Holdings, provided subordinated debt and preferred equity to Catalina Finer Foods, a Tampa-based manufacturer of frozen Cuban and Caribbean foods. The financing (which included Spring Capital's $4.4M subordinated debt and $1.9M equity) supports a succession plan with second-generation owner Justo Cepero and funds future organic growth and bolt-on acquisitions; Cadence Bank provided senior financing.

Gemini Investors Invests in Saval Foods and Catalina Finer Foods

April 19, 2022

Food & Beverage

Gemini Investors completed platform investments in two food companies: Saval Foods (a regional broadline foodservice distributor and deli meats processor) and Catalina Finer Foods (a Tampa-based manufacturer of Cuban and Hispanic frozen foods). The transactions create platform positions for Gemini to expand capabilities across foodservice distribution, deli meat processing, and ethnic frozen retail products in key U.S. markets.

Solina Acquires Saratoga Food Specialties

October 4, 2022

Food & Beverage

Solina, a France-based producer of savoury ingredient solutions, has signed an agreement to acquire Saratoga Food Specialties to accelerate its North American expansion. The deal (subject to regulatory approval) will add Saratoga's liquid-sauce capabilities, three U.S. manufacturing sites and approximately 500 employees to Solina's North American footprint.

GrubMarket Acquires Grand Food Inc.

August 11, 2020

Food & Beverage

GrubMarket has completed the acquisition of Grand Food Inc., a Hayward, California–based protein provider, making GrubMarket a major supplier of frozen meat and seafood in the San Francisco Bay Area. The deal brings Grand Food's processing capabilities, customer relationships with grocery chains, restaurants and online grocers, and access to production facilities in California, the Midwest and Europe into GrubMarket's network and WholesaleWare platform.

Fengate Private Equity and Weathervane Investments Acquire Saco Foods

January 22, 2024

Food & Beverage

Fengate Private Equity, partnering with Weathervane Investments and managing the investment on behalf of the LiUNA Pension Fund of Central and Eastern Canada, has acquired Saco Foods Holdings, LLC from Benford Capital Partners. The Middleton, Wisconsin-based branded shelf-stable food company will continue to be led by CEO Tom Walzer, who retains a significant equity stake; the buyers plan to support growth through new product innovation, channel expansion and further platform-building acquisitions.

L Catterton Acquires Kodiak Cakes

May 25, 2021

Food & Beverage

L Catterton, the global consumer-focused private equity firm, has acquired Kodiak Cakes, a Park City, Utah–based better-for-you food brand known for whole-grain pancake/waffle mixes, frozen breakfast products, oatmeal and snacks. Existing shareholders — including Sunrise Strategic Partners, Trilantic North America, and the company's founders and management — retain a meaningful minority stake; terms were not disclosed.