Sajo Group (via Oyang and Sajo CPK) Acquires Foodist from VIG Partners

Azalea Capital Acquires Virginia Food Group

November 18, 2024

Food & Beverage

Azalea Capital has acquired Virginia Food Group (VFG), owner of brands including Virginia Diner, Feridies, The Peanut Shop of Williamsburg, and Red Rocker Candy. Farragut Capital Partners provided senior subordinated debt and equity alongside NewSpring Capital and Salem Investment Partners to support the acquisition, with Atlantic Union Bank providing senior debt financing.

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.

VIG Partners Acquires The Skin Factory (Kundal)

November 20, 2023

Consumer Products

Seoul-based private equity firm VIG Partners acquired a 100% stake in The Skin Factory, the maker of the Kundal personal-care brand, in May 2021 for roughly 150–200 billion won. VIG plans to accelerate product-line expansion and overseas growth (especially in Southeast Asia); Kundal has rapidly scaled online and recorded roughly 120–130 billion won in sales around 2020–2022.

Citation Capital Acquires Majority Stake in Cibo Vita

October 11, 2023

Food & Beverage

Citation Capital, a Dallas-based private equity firm, will acquire a majority interest in Cibo Vita, a Totowa, New Jersey-based better-for-you snack manufacturer. The founders, Emre Imamoglu and Ahmet Celik, will remain significant shareholders as Citation partners with management to accelerate growth and innovation; financial financing is being led by Wells Fargo, Bank of America and American Ag Credit.

VIG Partners Acquires 85% Stake in Teazen Inc

April 26, 2022

Food & Beverage

South Korean buyout firm VIG Partners has agreed to acquire an 85% stake in Teazen Inc, a tea-based health drinks maker best known for its Tae-ri Kim Kombucha. VIG will purchase 70% from IBK-TS Private Equity Fund and 15% from CEO Jong-tae Kim and related parties for about $70 million, with closing expected in May; VIG plans to install professional management and expand Teazen's customer reach.

VIG Partners' Winplus to Acquire Hanwha Hotels & Resorts' Food Service Business Unit

November 29, 2019

Food & Beverage

VIG Partners announced that its portfolio company Winplus signed an agreement to acquire Hanwha Hotels & Resorts' food service business unit for about 100 billion won (~$85 million). The bolt-on deal covers the unit's institutional catering and foodstuffs retailing divisions (accounting for ~84% of the unit's 2018 revenue) and is intended to strengthen Winplus and VIG's footprint in Korea's food and grocery retail market.