Growth Potential Seen for At-Home Foods Market
Middle market investment banking firm Capstone Partners sees significant growth potential for established brands in the at-home foods market with the recent recapitalization of Uncle John’s Pride, a family-owned producer of branded premium meats in the consumer food and beverage sector.
Capstone advised Uncle John’s Pride on the transaction and says the deal highlights influential trends in the at-home foods market. Following the pandemic-induced spike in at-home dining and a growing consumer emphasis on health, wellness and convenience, demand for high-quality proteins to prepare at home has climbed.
With a host of branded products under multiple banners — including Bean Brothers, Peppino Foods, Realtree and more — and distribution through both retail and foodservice channels such as Walmart, Publix, and Winn-Dixie, Uncle John’s Pride has positioned itself as a premium brand with a strong foothold in the Southeastern United States, according to Capstone. UJP’s established regional platform, blue-chip customer base, premium product portfolio, and proven acquisition history position them well to capitalize on these favorable industry trends and robust consumer demand, making them an attractive target for investment.
“This transaction allowed the UJP shareholders to monetize their initial investment in the company, with a substantial return, while still maintaining a meaningful equity stake,” said Capstone Managing Director Brian Boyle. “Going forward, the company is forecasting rapid growth fueled by powerful consumer trends towards high-protein diets and increased at-home dining trends.”
Financing was provided by Promise Holdings, a consumer-focused private holding company, and specialty finance firms Star Mountain Capital and Maranon Capital. With the investment, Uncle John’s Pride will have the capital and resources necessary to expand beyond its established regional platform and pursue significant growth via additional private labeling.
For more updates on the specialty food industry, subscribe to Gourmet News.
Southern Glazer’s Donates $100K for Humanitarian Aid in Ukraine
Alcohol beverage distributor Southern Glazer’s Wine & Spirits is donating a total of $100,000 across three charitable organizations supporting humanitarian aid in Ukraine. The donation is the result of an employee fundraising campaign, in which Southern Glazer’s matched employee contributions to organizations performing meaningful work to help Ukrainian refugees.
In support of the Ukrainian community, Southern Glazer’s pledged to support World Central Kitchen, United Nations High Commissioner for Refugees and Cooperative for Assistance and Relief Everywhere through its donation match campaign. All individual employee donations were made for humanitarian aid in Ukraine through Southern Glazer’s internal giving platform, VolunCheers Online, in order to qualify for the match.
Based on employee contributions and the company match, Southern Glazer’s will be donating $42,214, $40,127.52 and $17,659 respectively to WCK, UNHCR and CARE with the hope that the funds will help the organizations respond with supplies and resources needed to help those affected by the current crisis.
“Southern Glazer’s stands in support of the Ukrainian people and wfe cannot thank our employees enough for their generous contributions to this campaign,” said CEO Wayne E. Chaplin. “Through our VolunCheers platform, we are able to rally our workforce around providing humanitarian relief for Ukraine and its neighboring countries. We are thankful for the meaningful work these charities are spearheading to ensure families are given the supplies and resources needed.”
For updates on news in the specialty food and beverage industries, subscribe to Gourmet News.
Cedar’s Foods Donates $100K to World Central Kitchen for Ukraine Relief
Cedar’s Foods, a Haverhill, Mass.-based company with national distribution of hommus and Mediterranean products, has donated $100,000 for Ukraine relief, to World Central Kitchen to help feed refugees.
Since military operations began in Ukraine, millions of Ukrainians have fled their homes to stay in western Ukraine or other countries and WCK is serving millions of fresh meals to displaced families. Working at a 24-hour pedestrian border crossing in southern Poland, WCK began serving hot, nourishing meals within hours of the initial invasion, and are now serving round-the-clock dishes at eight border crossings across the country.
Additionally, WCK is supporting local restaurants preparing meals in cities across Ukraine including in Odessa, Lviv and Kyiv. WCK teams are also on the ground serving thousands of meals every day in Poland, Romania, Moldova, Hungary, Slovakia, and Spain.
As part of Cedar’s with Heart, the company’s non-profit initiative to invest and honor its employees, communities, and consumers, the national leading hommus brand in the natural and organic grocery channels is committed to fighting food insecurity both in its community and around the world.
“At Cedar’s, we believe in the power of sharing better in the form of authentic, honest foods. Cedar’s with Heart extends that mission to not only share better with the world, but do better for the good of our community and our planet,” said Charles Hanna, CEO and president. “We hope to lead by example through our acts of service and our commitment to promote positive change for the next generation and generations to come. The humanitarian crisis in Ukraine is one of the worst that we have seen in decades. Our commitment to fight food insecurity transcends borders and when we heard of the great work WCK is doing, we wanted to help.
“Knowing better means doing better not only for our community, but for our global community as well. No family should have to worry about where their next meal will come from, especially after fleeing their homes and making the daunting journey to refuge,” Hanna said. “Food is a human necessity, a common ground among us all. It provides comfort and a sense of hope and stability. As a leader in the food industry, we are proud of the work WCK is doing on the frontlines and honored to be able to support them in feeding Ukrainian refugees.”
World Central Kitchen is first to the frontlines, providing meals in response to humanitarian, climate and community crises. When disaster strikes, WCK’s Chef Relief Team mobilizes to the frontlines with the urgency of now to start cooking and provide meals to people in need. By partnering with organizations on the ground and activating a network of food trucks or emergency kitchens, WCK provides freshly made, nutritious meals to survivors of disasters quickly and effectively.
Is your specialty food company contributing to Ukraine relief? Let our Senior Editor, AJ Flick, know by emailing her at aj_flick@oser.com and subscribe to Gourmet News for updates!
