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Lancaster Fine Foods marks the fourth consecutive deal for Stir Foods |
Stir Foods, a private-label and contract manufacturer of sauces, dressings and condiments for private equity firm Wind Point Partners, has acquired Lancaster Fine Foods.
The deal comes a year after Chicago-based Stir Foods bought Canadian private label and contract manufacturing company Celtrade. The financial terms for any of the transactions were not disclosed.
Like Sir Foods, Lancaster Fine Foods supplies sauces, dressings and condiments to retail and food service customers at its 100,000 square foot facility in Lancaster, Pennsylvania. The company finds it is able to double that capacity.
Milt Liu, the CEO of Stir Foods, who partnered with Wind Point to acquire the company in 2017, said in a statement, „The cultures and culinary focus of our two companies are very similar, which makes this a natural partnership . Lancaster combined with our Toronto facility enables us to serve the entire East Coast market efficiently. Our plan is to invest in Lancaster and leverage our combined skills and customer bases to make the Lancaster facility one of our ‘flagship’ -Expand locations. ”
The statement noted that Wind Point plans to continue fueling Stir Foods’ organic growth through product innovations and „additional complementary acquisitions like Lancaster,” which will boost Van Law Food Products offerings in 2019 and Sabra Dipping Co’s salsa business . would supplement the previous year.
Mike Thompson, 2008 Co-Founder and CEO of Lancaster Fine Foods, said, „Our team is excited to work with Milt and the Stir team. There is a strong cultural fit and we believe that we can grow even stronger together at Lancaster and Stir. Our activities are also very complementary in terms of the skills we can provide to our combined customer bases. With the financial support of Wind Point, we plan to continue investing in new skills to achieve that Driving growth in Lancaster. „
Dana 