Food & Beverage Acquisitions in Iowa

Charcuterie Artisans has acquired La Quercia Cured Meats, including its Norwalk, Iowa production facility and full product portfolio. The PE-backed charcuterie platform (owner: Industrial Opportunity Partners) said it will invest in the brand, expand the plant’s prosciutto capacity by ~50%, and retain La Quercia employees while working with the Lynch family and suppliers to maintain U.S. pork supply.

Pete & Gerry's Organics, LLC has acquired Kalona, Iowa-based Farmers Hen House, a supplier of Certified Humane organic, free-range and pasture-raised shell eggs. The acquisition adds over 90 partner family farms and a modern processing facility in Iowa, increasing Pete & Gerry's packing capacity and supporting growth across the Midwest and West; terms were not disclosed.

Pete & Gerry's Organics (the Butterfly Equity-backed egg platform) has acquired Pasture Brands Holdings — the holding company for Farmers Hen House and Pillars Yogurt — from Benford Capital Partners. The transaction (closed January 9, 2025) expands Pete & Gerry's branded specialty egg and dairy portfolio and continues consolidation in natural/conventional grocery and club channels.

Midwest Growth Partners' portfolio company, French Gourmet, has merged with Iowa-based ShellsbyDesign to combine complementary frozen tart shells, RTE desserts and artisanal pastry product lines. The merger is intended to expand product offerings and geographic reach for existing customers and to support continued growth under the MGP-backed platform.

The Ferrero Group agreed to acquire Wells Enterprises, the family-owned maker of Blue Bunny, Bomb Pop, Halo Top and other ice cream brands, as part of Ferrero's strategic expansion into the ice cream category and North American market. Wells Enterprises will remain a stand-alone business with its Le Mars leadership and manufacturing footprint intact; terms were not disclosed and the transaction was expected to close in early 2023.

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.

Monterey Bay Herb Co, a Frontenac-backed botanical processor and distributor based in Watsonville, California, has acquired AmeriHerb, an Ames, Iowa–based distributor of botanicals, herbs, and spices that sells primarily through AmeriHerb.com and Herbalcom.com. The deal is an add-on to the Monterey Bay platform intended to expand product assortment and e‑commerce reach across nutraceutical, food & beverage, pet, and health & beauty end markets.

Benson Hill, Inc. acquired ZFS Creston, LLC, a food‑grade soy white flake and soy flour manufacturing operation in Creston, Iowa, for approximately $102 million, primarily financed by a $100 million committed debt facility led by Avenue Capital Group. The acquisition gives Benson Hill immediate processing capacity to commercialize its high‑protein soybean varieties and expand its portfolio of non‑GMO, traceable soy protein ingredients for human and pet food markets.

Chicago-based private equity firm Benford Capital Partners has formed Pasture Brands Holdings, LLC to recapitalize Farmers Hen House, a Kalona, Iowa–based specialty egg producer. CEO Ryan Miller will remain in place and Benford plans to invest in sales, operations, product development and marketing while pursuing add-on acquisitions to grow the platform.

Brenntag has agreed to acquire JM Swank, a national food-ingredients distributor headquartered in North Liberty, Iowa, from Platinum Equity. JM Swank generated approximately $500 million of sales in 2020; the deal is intended to significantly expand Brenntag's Nutrition business in North America and is expected to close in Q3 2021 subject to customary conditions and regulatory approvals.

Orion Food Systems and Land Mark Products have entered a definitive merger agreement to create a combined foodservice company serving convenience store operators; the transaction is backed by an affiliate of One Rock Capital Partners. Land Mark owners will remain investors and continue in leadership roles while the combined company will offer an expanded portfolio of pizza, sandwich and prepared-food solutions across more markets. Financial terms were not disclosed.