Brynwood Partners Divests Richelieu Foods
Richelieu Foods, headquartered in Randolph, MA, is a leading manufacturer of private label frozen pizza and salad dressings. Brynwood V acquired Richelieu Foods in 2005 and over the past five years the company has more than doubled its annual sales as a result of both acquisition and organic growth. Richelieu Foods currently employs over 650 people and operates four manufacturing facilities in the U.S. Richelieu Foods’ management team will remain with the company after the closing.
“We are delighted to announce the divestiture of Richelieu Foods,” said Hendrick J. Hartong III, Chairman, Richelieu Foods and Senior Managing Partner, Brynwood Partners. “We are grateful to the Richelieu Foods’ management team and all of the hard working employees in the manufacturing plants for their tireless efforts over the past five years. We wish Centerview Partners success with this outstanding company.”
Sawaya Segalas & Co., LLC served as the investment banking advisor to Brynwood V.
About Brynwood Partners L.P.
Founded in 1984, Brynwood Partners is an operationally-focused private equity fund that makes control investments in lower middle market companies. Brynwood Partners targets companies operating in the following sectors: (a) consumer products, (b) light manufacturing with low capital intensity, (c) service businesses, and (d) specialty retailing.
Brynwood Partners is currently managing over $640 million of private equity capital for its limited partners who include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions. For more information on Brynwood Partners please visit www.BrynwoodPartners.com.