Credit: Unsplash / Ivan Torres
Miracapo Pizza Company has become the latest US food manufacturer to be acquired by local private-equity firm Brynwood Partners.
The transaction for Illinois-based frozen pizza maker includes three manufacturing facilities in the Chicago area.
Financial terms have not been disclosed.
Miracapo is a contract manufacturer supplying convenience stores and branded customers serving the retail channel. The company employs around 385 people.
It was acquired by Connecticut-based Brynwood from CC Industries, a privately-held company for the operating assets of the Crown Family.
Henk Hartong III, chairman and CEO of Brynwood Partners, said: “We look forward to the prospect of adding to our successful track record in the pizza space, with our prior portfolio company, Richelieu Foods and our current investment in the space, Great Kitchens Food Company, which primarily serves private label retail customers in the take-and-bake pizza space.
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“We are impressed by what the company has achieved since its founding in 1984 and plan to build Miracapo’s commercial capability.”
Just Food has asked Miracapo for its comments on the deal, outside of US office hours.
The Brynwood Partners portfolio also includes baking products supplier Hometown Food Company and West Madison Foods.
Its acquisition of Miracapo increases the total Brynwood manufacturing network to 19 facilities, approximately 4,700 employees and more than $3bn in annual sales.
In January, Brynwood was linked in a US media report to a possible sale of Chicago-based Hometown Food Company, which it formed in 2018 to acquire a portfolio of brands from JM Smucker.
News agency Reuters suggested Brynwood had hired US-based investment bank Houlihan Lokey as an advisor.
In an interview with Just Food conducted around the same time, Hartong III said Brynwood was “actively trying to sell companies in our portfolio” without disclosing the identity of the assets.
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Publish date : 2024-09-03 23:56:00
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