Borgman Capital Acquires Dairyfood USA as Add-on to Gilman Cheese

Gilman Cheese Merges with Dairyfood USA (PE add-on)

May 31, 2022

Food & Beverage

Gilman Cheese Corporation has merged with Dairyfood USA to combine two Wisconsin specialty cheese processors and expand their product mix, including extended shelf-life and naturally smoked cheeses. The deal was announced as an add-on to Gilman’s PE-backed platform (sources reference Midwest Growth Partners and Borgman Capital in connection with Gilman) and aims to broaden capabilities and global distribution for processed cheese products.

Borgman Capital and Tecum Capital Recapitalize Gilman Cheese Corporation

March 8, 2019

Food & Beverage

Borgman Capital completed a majority recapitalization of Gilman Cheese Corporation with subordinated debt and equity provided by Tecum Capital Partners; Johnson Bank provided senior debt and Midwest Growth Partners provided equity. Terms were not disclosed; Tom and Char Hand reinvested a significant amount of equity and Tom Hand remains CEO as the new investor group executes a collective growth strategy for the Gilman, Wisconsin–based processed cheese manufacturer.

Borgman Capital Acquires Southeastern Meats

June 14, 2021

Food & Beverage

Milwaukee-based private equity firm Borgman Capital has acquired Birmingham, Alabama-based Southeastern Meats, a producer and distributor of frozen vegetables, meats, seafood and specialty items. Borgman said it will invest in Southeastern Meats' Pick 5 and Southeastern Vegetables programs and support the company's continued geographic expansion into the East Coast and Midwest.

Latina Boulevard Foods (The Anderson Group portfolio) Acquires Assets of Diversified Dairy Products

January 1, 2019

Food & Beverage

Latina Boulevard Foods, a portfolio company of The Anderson Group, acquired certain assets of Western New York-based Diversified Dairy Products and will integrate the business into Latina’s Cheektowaga storage and distribution operations. The deal expands Latina’s product offering in ice-cream-related products and ingredients and grows its customer base in Western New York.

AgCertain Industries Acquires Maytag Dairy Farms

June 16, 2022

Food & Beverage

AgCertain Industries, a portfolio company of Midwest Growth Partners, has acquired Maytag Dairy Farms, the Newton, Iowa-based maker of Maytag Blue Cheese. Midwest Growth Partners — the previous owner of Maytag — facilitated and expanded its investment in AgCertain to complete the transaction, which aims to combine brands, expand product offerings and accelerate growth across distribution and direct-to-consumer channels.

Heartisan Foods Acquires North Country Packaging

September 8, 2023

Food & Beverage

Heartisan Foods, a Ronin Equity Partners-backed specialty cheese platform, has acquired North Country Packaging, a Barron County maker of cheese spreads and curds. The deal will triple Heartisan's manufacturing capacity, expand fulfillment for its Cheese Brothers e-commerce brand, and support new product launches; North Country co-founders Kendall and Maria Goossen will retain a meaningful stake in the combined business.