Stonewall Kitchen Announces Investment From Audax Private Equity to Further Accelerate Growth

NEWS PROVIDED BY

Jul 31, 2019, 22:44 ET

NewYORK, Maine, Aug. 1, 2019 /PRNewswire/ -- Leading specialty food producer Stonewall Kitchen announced today that Audax Private Equity ("Audax"), a leading alternative investment manager for North American middle market companies, has invested in the company alongside the management team.  Working together, Audax and Stonewall Kitchen intend to accelerate the company's plans to become one of the leading specialty food platforms in North America. The company will continue to be led by existing management, with John Stiker remaining as the Chief Executive Officer, Lori King as the company's President and Chief Operating Officer, and Natalie King as Executive Vice President.

In 2014, Stonewall Kitchen initially partnered with private investment firm Centre Partners to achieve next level growth. During that five-year partnership, Stonewall Kitchen thoughtfully expanded its national distribution and completed the acquisitions of the Tillen Farms® brand of cocktail accessories, the Napa Valley Naturals® brand of culinary oils and vinegars, and the Montebello® brand of imported organic Italian pasta. Together with a licensing agreement with Legal Sea Foods®, these initiatives have nearly doubled the size of the company.

"This is an exciting time for Stonewall Kitchen," stated John Stiker, CEO of Stonewall Kitchen. "We've experienced a significant amount of growth over the last five years, and by partnering with Audax, we'll look to provide even more innovative, high-quality and delicious products for our customers and guests as we continue to grow going forward."

Added Jay Mitchell, Managing Director of Audax, "As a New England-based company ourselves, we're excited to invest in Stonewall Kitchen and partner with John and the rest of the team.  The culture and business practices at Stonewall Kitchen are a great match with Audax's own philosophy and values, and we believe that our Buy & Build investment strategy, combined with their expertise in the specialty food industry, can transform the company into a more substantial enterprise."

Concluded Stiker, "Alongside Audax, we will be looking to continue our dynamic acquisition efforts while also growing our heritage Stonewall Kitchen brand.  Our focus will be on identifying products and companies that match our high-quality standard for delicious food, and which preserve and enhance our core values and company culture.  We're excited to see what the future brings!"

About Stonewall Kitchen

Stonewall Kitchen is a leading specialty food producer headquartered in York, Maine.  Founded in 1991 by partners Jonathan King and Jim Stott, the two established the Stonewall Kitchen brand by selling jams and jellies at local farmers' markets with a flavorful line of distinctive and high quality products. Over time, they expanded the brand to include sauces, condiments, crackers and baking mixes, always focusing on innovative product development, beautiful packaging, and exceptional guest service.  Today, Stonewall Kitchen is the premier specialty foods platform in North America, home to a family of premium quality brands including the flagship Stonewall Kitchen brand; the Tillen Farms brand of pickled vegetables and cocktail cherries; the Napa Valley Naturals brand of olive oils, culinary oils, balsamic vinegars and wine vinegars; the Montebello brand of artisan organic pasta imported from Italy; and the Legal Sea Foods brand of restaurant-quality seafood sauces and condiments.  The company boasts more than 8,500 wholesale accounts nationwide and internationally; a thriving catalog and online division; a cooking school and café in both York, Maine and Costa Mesa, California; and nine retail Company Stores throughout New England. As winners of 30 prestigious awards from the Specialty Food Association and the recipient of the coveted Outstanding Product Line Honors three times, Stonewall Kitchen is proud to be one of the most awarded specialty food companies in the country.


About Audax Private Equity

Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $25 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 125 platforms and 775 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 240 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies.

For more information Visit Our Official Website:

New York
(800) 591-8408
contact@pressreleasepower.com

Location: United States

Comments

Post a Comment

Popular posts from this blog

Best Online Free Press Release

Image
Online Press Release Distribution Every company is wanting to obtain its name out into the market to market its products and services as well as to draw in clients. To get the ideal direct exposure can be a really expensive workout, so services are constantly looking for way of reaching the largest possible target market in the quickest feasible time for the least possible outlay. Online Free Press Release Distribution Site use an affordable alternative to standard advertising. A well-produced Free Press Release Service can result in huge media attention for your business. Effectively done, your press release will aid you get to the top of internet search engine rankings and will certainly be seen all over individuals search online so creating even more traffic for your website. There are, nevertheless, a few simple guidelines that you ought to comply with if your online news release is to attain the results you desire: - It must have a concise, compelling title (search en
Read more

Press Release Distribution Services

Image
Two Sigma Completed Private Fund Manager Registration in China Two Sigma announced today that Two Sigma China Co., Ltd. has successfully registered as a Private Fund Manager (PFM) with the Asset Management Association of China (AMAC). Two Sigma China Co., Ltd. is a Wholly Foreign-Owned Enterprise (WFOE) incorporated by Two Sigma in Shanghai on November 11, 2018. The PFM registration enables the company to develop and market onshore investment products for qualified investors in China. We will continue to expand the China team and local infrastructure to support our development of a domestic fund management business and Press Release Distribution Service Canada use our data science methods and advanced technologies to serve clients in China, as we have done for our clients in other markets," said Kenny Lam, Head of the Asia Pacific region and Chief Executive Officer of Two Sigma Asia Pacific Limited. As part of a long-term commitment to China, in May 2019, Two Sigma
Read more

Press Release Distribution Service Canada

Image
Press Release Distribution Service Canada Advisors Capital Management (ACM) is pleased to announce that Kevin E. Strauss has joined the firm as a partner and member of the firm's investment committee. Mr. Strauss will co-manage ACM's Balanced and Fixed Income portfolios, bringing his expertise of the municipal bond market to our clients and partners. As Managing Director, Mr. Strauss will work to grow ACM’s institutional and advisory platforms. Strauss was the former Vice Chairman of Abner Herrman & Brock Asset Management (AHB) for seventeen years, where he managed equity and fixed income portfolios and was a member of that firm's investment Press Release Distribution Service Canada committee. Prior to AHB, Strauss spent eight years with Citigroup Global Asset Management, ending with the position of Senior Portfolio Manager in the firm’s institutional and Private Client Groups. ACM's co-founder and CIO, Dr. Charles Lieberman said, "I am delighted t
Read more