Food & Beverage Acquisitions in Rhode Island

Industrial Opportunity Partners (IOP) led a recapitalization of Charcuterie Artisans, the parent of Creminelli Fine Meats and Del Duca, acquiring the company’s assets and assuming majority ownership alongside capital partners Oaktree Capital Management, Sandton Capital Partners and Contrarian Capital Management. The transaction eliminated approximately $200 million of debt, secured a new working capital facility from PNC Business Credit, and positions Charcuterie to expand capabilities, strengthen customer partnerships and invest in growth across its premium charcuterie portfolio. Jeff "Trip" Tripician was appointed CEO to lead the company’s next phase.

American Food Partners, Inc. has acquired NGC, Inc., the owner of The Town Dock, a Rhode Island-based seafood company specializing in squid and calamari, including its affiliated fleet of vessels. Ryan Clark will remain as CEO of The Town Dock while AFP adds the business to its portfolio alongside SeaFresh USA and Handrigan Seafood to expand its U.S. presence and squid/calamari program.

Atalanta Corporation, part of the Gellert Global Group, has acquired Big Picture Foods, a small producer of Mediterranean-style, regenerative organic foods. The acquired brand will retain its leadership team and will receive Atalanta's distribution and resources to expand its product reach and enter new markets; terms were not disclosed.

Newport Craft Distilling has acquired KEEL Vodka, bringing the premium light spirit into Newport Craft's portfolio alongside brands such as White Squall Vodka & Gin and Thomas Tew Rums. The deal will return KEEL production to Rhode Island, expand Newport Craft's vodka offerings, and support local manufacturing and job creation.

Peru-based Océano Seafood has acquired Sea Fresh USA, a Rhode Island-based seafood processor, marking Océano's first U.S. acquisition. The deal gives Océano direct access to Sea Fresh's BRC-certified processing facility, fishing vessels and U.S. sourcing capabilities and supports the company's planned expansion across North America.

Primo Water Corporation, through its wholly owned subsidiary Primo Water North America, acquired substantially all the assets of Crystal Spring Water Company, a bottled water manufacturer and distributor based in Middletown, Rhode Island. The acquisition adds roughly 2,500 customers and strengthens Primo's Northeast footprint.

Altair Acquisitions, LLC acquired all material assets of Wildtree (Wildtree, Inc./Wildtree Holdings, LLC), a maker of organic and allergen-sensitive spices, sauces and meal solutions headquartered in Lincoln, Rhode Island. Altair said it will invest to expand Wildtree's product offerings, accelerate subscription and online retail channels, and enter new markets focused on gluten‑free, low‑sugar, vegetarian, kosher and organic options.

Chicago-based private equity firm Entrepreneurial Equity Partners (e2p) has acquired Daniele International, a Rhode Island-based producer of specialty Italian charcuterie and deli meats, from the Dukcevich family, who will retain a significant stake. The deal marks e2p's second platform investment and aims to leverage the firm's food and CPG expertise to support Daniele's growth across retail, club and mass channels.

Encore Consumer Capital, a San Francisco-based private equity firm, completed an investment in Tourtellot & Co., Inc., a Warwick, Rhode Island-based fresh produce distributor. Encore said it will partner with the Sigal family and Tourtellot management to support the company's next phase of growth and strengthen its position serving retail grocery customers across the New York–Boston corridor.