Food & Beverage Acquisitions in Pennsylvania

Reddy Ice, LLC (a portfolio company of SCI Capital Partners) has closed the acquisition of Arctic Glacier, LLC from The Carlyle Group. Terms were not disclosed; Reddy Ice will divest four facilities and associated customer contracts to address DOJ antitrust review as it integrates Arctic Glacier into its North American packaged-ice platform.

Puratos has acquired Vör Foods, a U.S.-based maker of ultra-clean-label nut butters and nut-based fillings, adding a dedicated SQF-certified nut facility in Trevose, Pennsylvania to its U.S. manufacturing footprint. The acquisition expands Puratos' nut ingredient capabilities to better serve bakery, confectionery and adjacent sweet-goods customers and enables closer technical collaboration and investment to scale Vör's capacity and R&D.

Avance Investment Management has made a strategic minority investment in Barchemy, LLC, a developer and manufacturer of better-for-you chocolate and confectionery ingredients. Barchemy Founder and CEO Larry Toscano will retain a significant ownership stake and continue to lead the company as the business invests to expand capacity, facilities and product innovation; terms were not disclosed.

Swander Pace Capital has acquired Maple Donuts Inc., a Pennsylvania-based manufacturer of frozen private-label donuts, with Partners Capital and Constitution Capital Partners serving as lead co-investors. The Burnside family will transition the business to Swander Pace, which plans to expand Maple Donuts' product offerings, production capabilities, and market reach as part of its bakery-platform strategy.

Odeko, an operations and technology partner for independent food & beverage businesses, has acquired Humankind Beverage, a Lancaster, Pennsylvania-based cafe distributor and bottled beverage brand. The acquisition expands Odeko's presence in the Northeastern and Mid-Atlantic U.S. and enables Odeko to sell Humankind bottled water, juices and teas across its national distribution network; Odeko also announced a partnership with Credit Key to offer flexible payment terms to customers.

An affiliate of New Water Capital Partners II L.P. has acquired Dutch Gold Honey and its related businesses — McLure's Honey & Maple Products, Gamber Container Company, The Bacon Jug Company and DGH Logistics. The investment positions Dutch Gold for expanded capacity, operational upgrades and growth while the Gamber family remains invested in the business.

MBC Companies, a portfolio company of Entrepreneurial Equity Partners (e2p), has acquired Nardone Brothers Baking Co., a family-owned frozen pizza manufacturer based in Wilkes-Barre, Pennsylvania. The add-on expands MBC's product portfolio beyond frozen breakfast into pizza, increases manufacturing capacity to three facilities, and creates cross-selling opportunities across K-12, private label retail, convenience store and foodservice channels.

Hidden Harbor Capital Partners has made a strategic control investment in Quaker Valley Foods, a Philadelphia-based protein distributor. The management team will remain in place and Hidden Harbor intends to scale operations and pursue organic growth and acquisitions; debt financing was provided by NXT Capital and Maranon Capital.

Wakefern Food Corp. acquired the Di Bruno Bros. trademark and portfolio of branded specialty food products to expand national distribution, while DB Gourmet Markets, LLC (operated by Wakefern member Brown's Super Stores) acquired the five Di Bruno Bros. retail locations and a bottle shop. Wakefern said it will market the branded products nationally through a dedicated sales team and has appointed Emilio Mignucci as VP of the Di Bruno Bros. brand to preserve the company's culinary legacy.

Lombardi's Prime Meats, a family-owned butcher shop in South Philadelphia, has been sold to Rob Passio, owner of Giunta's Prime Shop at Reading Terminal Market. The transaction, brokered by Nancy Alperin of Maxwell Realty Co. Inc., will keep Lombardi's traditional offerings while enabling integration of some Giunta's products and continuity for customers.

Our Home has acquired the ParmCrisps snack brand and the York, Pennsylvania production facility from Hain Celestial Group. The deal expands Our Home's cheese-crisp manufacturing and branded-snack capabilities—building on its recent Sonoma Creamery acquisition—while Hain Celestial said proceeds will be used to pay down debt and streamline its portfolio.

El Paso-based Mount Franklin Foods, LLC has acquired the assets of Bethlehem, Pennsylvania–based Stuffed Puffs, LLC in a deal effective immediately for an undisclosed sum. The acquisition brings Stuffed Puffs' proprietary filled-marshmallow technology and consumer brand into Mount Franklin's confectionery, co-manufacturing and private-label portfolio to accelerate product innovation and growth.

Regent completed its full exit from Plainville Farms, selling the organic and antibiotic-free turkey processor to Farm Fresh Turkey Products, LLC — a new investor group led by The Wenger Group, Inc. The deal transfers ownership to a consortium of suppliers, growers, management and industry participants led by Wenger, which aims to build on Plainville’s East Coast market position and supply-chain capabilities.

CTH Invest SA, a Ferrero-related Belgian holding company, has agreed to acquire Nonni's Bakery from Vestar Capital Partners. The acquisition returns Nonni's to its Italian roots, strengthens Ferrero-related groups' presence in North America, and brings into the fold a Wexford, Pennsylvania-based artisanal biscotti and packaged-snacks manufacturer with ~350 employees and four plants.

Maola Local Dairies, a subsidiary of Maryland & Virginia Milk Producers Cooperative Association (MDVA), has acquired HP Hood’s extended shelf-life UHT dairy processing facility in Philadelphia, Pennsylvania. The brokered transaction, facilitated by Harry Davis & Company, preserves more than 160 local union jobs and provides MDVA with immediate processing capacity to diversify products and expand its market reach.

Altamont Capital Partners has made a growth capital investment in Mini Melts USA, partnering with founder and CEO Dan Kilcoyne, who remains a major investor and will continue to lead the company. The funding will support expansion of Mini Melts' distribution footprint and manufacturing capabilities as the frozen-novelty brand scales nationally.

Chobani, LLC has acquired La Colombe for $900 million, financed with a $550 million term loan, cash on hand, and the exchange of Keurig Dr Pepper's minority stake into Chobani equity. The acquisition brings La Colombe's RTD coffee, roasting capabilities and café footprint into Chobani's portfolio to accelerate entry into the ready-to-drink coffee category and drive complementary growth and synergies.

Jonathan Sprouts, a multi-generational grower of organic green sprouts, acquired Pennsylvania-based The Sproutman effective December 1, 2023. The acquisition preserves supply continuity as founder Murray Tizer retires and expands Jonathan Sprouts' availability across the Mid-Atlantic and Midwest into the broader Northeast U.S.

Tourtellot & Co., a portfolio company of Encore Consumer Capital, has acquired Ryeco Inc. from the Reilly family to create a super-regional produce distribution platform serving the Northeast through the mid-Atlantic. The Reilly family remains an owner in the combined business and Michael Reilly Jr. will continue partnering with Tourtellot's leadership to integrate operations and drive growth.

Chicago-based private equity firm Frontenac has made a growth investment in Prime Food Processing and Chan & Chan, Inc. (together, CCI Prime), a 30+ year-old manufacturer and importer of Asian-style frozen foods. Founder Albert Chan will retain a significant ownership stake and remain CEO as Frontenac supports expansion of CCI Prime’s Asian cuisine offerings into mainstream retail while continuing to serve the ethnic grocery channel.

Arbor Investments has acquired Golden Malted (New Carbon Company, LLC) and Heartland Waffles (Heartland Food Products, LLC) from Roch Capital; terms were not disclosed. The combined Golden Malted–Heartland business, headquartered in Glen Mills, Pennsylvania (with related operations in Raleigh, North Carolina), is a leading supplier of waffle mixes, toppings and waffle-iron equipment to the hospitality and broader foodservice industry and will be run as an Arbor platform to accelerate distribution and product innovation.

Sunny Sky Products, a portfolio company of The Jordan Company, has completed the acquisition of GoodWest Industries from Palladium Equity Partners. The deal brings GoodWest's aseptic beverage and shelf-stable creamer capabilities into Sunny Sky's platform to expand product offerings across convenience store, coffee shop and foodservice channels; Palladium will retain the Jordan's Skinny Mixes division.

House Foods Holding USA, the North American subsidiary of House Foods Group Inc., has acquired Keystone Natural Holdings (KNH) from private equity firm Keystone Capital. The acquisition expands House Foods' portfolio of value-added tofu and plant-based products and supports accelerated U.S. market expansion, adding KNH's Folcroft, Pennsylvania manufacturing capabilities to House Foods' North American footprint.

FreshEdge, a produce and specialty food platform backed by Rotunda Capital Partners, acquired Monteverde's, a fresh produce distributor located near Pittsburgh, Pennsylvania. Monteverde's operates from a 61,500 sq ft facility and will remain locally managed under the Monteverde family while expanding FreshEdge's footprint in western Pennsylvania and the eastern U.S.; terms were not disclosed.

Tecum Capital Partners II, L.P. has made a growth investment in DelGrosso Foods Inc., partnering with a banking syndicate led by First Commonwealth Bank to provide debt financing. The capital will fund conversion of a newly acquired 166,000 sq. ft. facility in Antis Township, Pennsylvania to expand sauce manufacturing capacity, preserving 90+ jobs at Tipton and creating more than 50 new manufacturing roles.

Crown Bakeries, the Arbor Investments-backed bakery platform, has acquired Michel's Bakery, a Philadelphia-based maker and distributor of sweet baked goods founded in 1898. Michel's will continue operating from its Philadelphia facility with Jon Liss remaining as General Manager; terms were not disclosed. The deal expands Crown's manufacturing footprint in the Northeast and broadens its sweet- and laminated-goods capabilities.

Tenex Capital Management announced an investment to acquire JTM Foods (dba JJ's Bakery), the largest manufacturer of handheld snack pies in North America. The transaction (supported by debt financing from lenders including Audax Private Debt and Varagon Capital Partners) will partner Tenex's operational expertise with JTM's co-manufacturing, private-label and branded snack-pie business to expand capabilities and growth.

Stir Foods, a Wind Point Partners-backed platform, has acquired Lancaster Fine Foods, a private-label and contract manufacturer of sauces, dressings and condiments, expanding Stir's manufacturing footprint to the U.S. East Coast. The acquisition adds a 100,000 sq. ft. SQF-certified facility in Lancaster, Pennsylvania and is an add-on designed to increase capacity, geographic reach and service for retail, industrial and foodservice customers.

Kainos Capital, with a preferred and common equity investment from The Private Capital Group of MSD Partners, has acquired Tivity Health’s Nutrition Business — including **Nutrisystem** and **South Beach Diet** — for $575 million in cash. Tivity Health divested the business to focus on its core healthcare operations while Kainos plans to reestablish Nutrisystem as an independent, growth-oriented consumer nutrition company.

South Mountain Creamery, a family-owned farm and creamery based in Middletown, Maryland, acquired Trickling Springs Creamery and its processing plant in Chambersburg, Pennsylvania. South Mountain will relaunch the business as Trickling Springs Organic, reopen The Market at Trickling Springs, resume bottling operations in October 2020, and initially employ 25–30 people (growing to ~50).

Ancient Harvest (part of Quinoa Corporation and backed by Encore Consumer Capital) has completed the acquisition of the Pamela's brand, joining two heritage gluten-free companies. The deal more than doubles the business under Quinoa Corporation's management, expands retail footprint and combines formulation expertise and supplier networks to drive new product development and manufacturing scale.

Encore Consumer Capital, a San Francisco-based private equity firm focused on consumer products, has completed the acquisition of Lion Beverages, LLC (doing business as The Lion Brewery), a contract manufacturer of specialty beverages based in Wilkes-Barre, Pennsylvania. Lion provides brewing, blending, canning, bottling and packaging services to national and regional beverage brands; the transaction follows Blue Point Capital Partners' exit of its U.S. Drinks / Lion Brewery holding.

Aterian Investment Partners (through an affiliate) completed a carve-out acquisition of Hain Pure Protein from The Hain Celestial Group. The acquisition includes the Empire Kosher, Kosher Valley and FreeBird poultry brands (operations in Mifflintown and Fredericksburg, Pennsylvania); Aterian said it will invest in new products, geographic expansion and production capabilities to drive growth.

AUA Private Equity Partners has acquired the assets of TruFood Mfg., Inc. (AOG, LLC d/b/a TruFood Manufacturing), a Pittsburgh-based contract manufacturer of nutrition and snack bars. AUA said it will provide capital, operational support and new executive leadership to expand TruFood's product development, R&D and customer service capabilities as part of its food manufacturing portfolio.

An affiliate of Peak Rock Capital completed the acquisition of Turkey Hill Dairy from The Kroger Co. Turkey Hill, headquartered in Conestoga, Pennsylvania, is a manufacturer and distributor of ice cream and refrigerated drinks; Peak Rock said it will operate Turkey Hill as a standalone platform and pursue organic growth and complementary acquisitions.

Maplehurst Bakeries, a subsidiary of George Weston Limited, acquired Keystone Bakery Holdings, LLC from Keystone Capital, Inc. for approximately $185 million. The transaction brings KBH’s frozen baked-goods platform (including Freed's, Granny's and Heartland) into Weston's Weston Foods/Maplehurst network to expand its North American in-store bakery and foodservice footprint.