Eagle Family Foods (Kelso-backed) Acquires Helper and Suddenly Salad from General Mills

EagleTree Capital Acquires Summit Hill Foods

December 1, 2023

Food & Beverage

EagleTree Capital has acquired Summit Hill Foods, the Rome, Georgia–based owner of Better Than Bouillon and The Original Louisiana Hot Sauce, with several fund investors co-investing including Misland Capital Limited. The Summit Hill Foods management team and operations will remain in place; the seller is G&L Holdings (the family-owned parent), and terms were not disclosed.

Alto Ingredients Acquires Eagle Alcohol Company

January 14, 2022

Manufacturing

Alto Ingredients, Inc. acquired Eagle Alcohol Company LLC, a St. Louis-based distributor of specialty alcohols, in a transaction announced January 2022. The deal (closed Jan. 14, 2022) was funded with cash on hand for a base purchase price of $14.0 million plus an estimated $1.3 million working capital adjustment and includes up to $14.0 million of contingent consideration; Alto said the acquisition is immediately accretive and expected to increase Adjusted EBITDA by $7–9 million annually.

E S Foods Acquires Assets of Notables

May 11, 2022

Food & Beverage

E S Foods has acquired the assets of Minneapolis-based school foodservice company Notables to expand its grab-and-go and meal kit offerings for K-12 programs. The transaction will allow E S Foods to incorporate Notables' product lines and customer base into its existing school foodservice portfolio; East Wind Advisors acted as exclusive financial advisor to E S Foods.

Kelso & Company Acquires Individual FoodService

November 22, 2019

Food & Beverage

Kelso & Company has acquired a majority equity interest in Individual FoodService (IFS), a Bell, California-based distributor of foodservice disposables, packaging and janitorial/sanitation products, from prior investor Sole Source Capital. Kelso said it will partner with IFS management to accelerate the company's acquisition strategy, expand capabilities and invest in operations; Kenneth Sweder was appointed Chairman of the IFS board.

Kronos Foods (e2p) Merges with Grecian Delight Foods

April 7, 2020

Food & Beverage

Entrepreneurial Equity Partners' portfolio company Kronos Foods has agreed to merge with Grecian Delight Foods, a Parthenis family business headquartered in Elk Grove Village, Illinois. The Parthenis family will retain a significant stake and Peter Parthenis, Jr. will serve as president and CEO of the combined company; financial terms were not disclosed.

Hometown Food Company (Brynwood Partners) Acquires Arrowhead Mills and SunSpire from The Hain Celestial Group

October 8, 2019

Food & Beverage

Hometown Food Company, a Brynwood Partners portfolio company, acquired the Arrowhead Mills and SunSpire brands from The Hain Celestial Group for $15 million, including a manufacturing facility in Hereford, Texas and its employees. The deal expands Hometown Foods' presence in the organic/better-for-you baking and chocolate categories and adds manufacturing capability to the firm's consumer foods platform.