Sovos Brands Acquires Birch Benders

Hometown Food Company (Brynwood Partners) Acquires Birch Benders from Sovos Brands

January 9, 2023

Food & Beverage

Hometown Food Company, a Brynwood Partners-controlled platform, has acquired Birch Benders from Sovos Brands. The deal adds the better-for-you pancake, waffle and baking mixes brand to Hometown Food Company's portfolio to expand its footprint in the breakfast and baking categories; terms were not disclosed.

Campbell Soup Company Acquires Sovos Brands, Inc.

August 7, 2023

Food & Beverage

Campbell Soup Company completed the all-cash acquisition of Sovos Brands, Inc. for $23 per share, representing an enterprise value of approximately $2.7 billion. The deal brings premium brands including Rao's, Michael Angelo's and noosa into Campbell's Meals & Beverages division, creates a new Distinctive Brands unit, and is expected to deliver roughly $50 million of run-rate cost synergies and be accretive to adjusted EPS by the second year.

Brynwood Partners VIII L.P. Acquires De Wafelbakkers

April 5, 2021

Food & Beverage

Brynwood Partners VIII L.P. has acquired De Wafelbakkers from The Oklahoma Publishing Company (OPUBCO), a subsidiary of the Anschutz Corporation. The acquisition expands Brynwood's food and beverage manufacturing footprint and adds two production facilities and roughly 650 employees to its portfolio.

Bansk Group Acquires Majority Interest in Red's All Natural

February 14, 2023

Food & Beverage

Bansk Group has acquired a majority interest in Red's All Natural, a fast-growing clean-label frozen burrito and breakfast sandwich brand; terms were not disclosed. Stellus Capital Management provided senior debt financing and an equity co-investment to support the transaction, and founder/CEO Mike Adair will remain in leadership and retain a significant minority stake.

Benford Capital Partners Acquires Legacy Bakehouse

April 11, 2023

Food & Beverage

Chicago-based private equity firm Benford Capital Partners has acquired Legacy Bakehouse, a Waukesha, Wisconsin-based developer and manufacturer of baked snack ingredients and the owner of the Pinahs brand. Benford will partner with Legacy President Peter Sardina, invest in operational capacity and sales capabilities, and pursue add-on acquisitions to grow the platform.

Olympus Partners Acquires Rise Baking Company from Arbor Investments

August 9, 2018

Food & Beverage

Stamford-based private equity firm Olympus Partners has acquired Rise Baking Company, a Minneapolis-headquartered manufacturer of premium cookies, dessert bars, artisan breads, and flatbreads, from Arbor Investments. Rise employs over 1,000 people across six North American facilities; Olympus said it will partner with management to continue organic growth and pursue transformational acquisitions to expand the business.