Fengate Private Equity, a division of investment fund Fengate Asset Management, has announced the acquisition of Saco Foods, a US manufacturer of shelf-stable products for an undisclosed sum.
Founded in 1973, the company had been owned by Benford Capital Partners since 2016, during which time it underwent a process of recapitalization.
Saco Foods is described as a leading specialty consumer packaged goods company primarily retailing through supermarkets, mass retailers and e-commerce channels in the U.S. Its portfolio includes leading shelf-stable brands Saco Pantry, Dolci Frutta, California Sun Dry, Hoosier Hill Farm and the recently-acquired Solo Foods.
Commenting on the deal, Saco Foods CEO Tom Walzer said: “Saco Foods is excited to partner with Fengate and Weathervane to sponsor the Company’s next chapter of growth. With our aligned vision and values, we believe this partnership will maintain and expand upon our entrepreneurial spirit and our commitment to quality”.
Source: Fengate Asset Management