Windjammer Capital Investors ("Windjammer") is pleased to announce that, in partnership with management, it has acquired S.T. Specialty Foods, Inc. ("the Company"). WCI provided the equity and the subordinated debt to complete the transaction and provide a strong and stable capital structure to support the Company's growth initiatives.
Headquartered in Brooklyn Park, MN, with an additional facility in Kenosha, WI, S.T. Specialty Foods is the leading North American manufacturer of private label and store branded, dry shelf-stable dinners and side dishes. The Company serves a diverse customer base in the grocery retail, discount retail, wholesale, mass merchandiser, and specialty retail channels. Macaroni and cheese dinners, add-meat skillet dinners, rice dinners, and meatless side dishes are among the many products the Company manufactures. S.T. Specialty Foods has established a track record of leadership in product development, manufacturing, and customer service and is recognized as being cost competitive and offering high quality products to its customers.
"S.T. Specialty Foods' reputation, the strong value proposition it provides to its customers and its resulting niche market leadership are the foundation for Windjammer's investment," said Greg Bondick, Principal of Windjammer. "We are excited to partner with the Company's management team to support its growth initiatives."
Dale Schulz, CEO of S.T. Specialty Foods, said "We see tremendous growth opportunities for our Company and are excited to have Windjammer as our partner. Their expertise in working with niche-oriented, market leaders in the middle market as well as their strategic guidance and resources will be valuable to us as we continue to expand our business." Ray Turcotte, CFO of S.T. Specialty Foods, added: "Windjammer's ability to provide both the equity and the subordinated debt was a key differentiating factor, and played an important role in getting the deal closed given the significant turbulence in the credit markets."
John Donahue, Director of Windjammer, said: "S.T. Specialty Foods is a great addition to the Windjammer portfolio. It has a solid growth plan in place, and its management team has proven its ability to execute and produce outstanding results."
Greg Bondick, John Donahue and Chris Allen worked on the transaction for Windjammer. Contact Greg (781-530-9121, firstname.lastname@example.org) or John (781-530-9161, email@example.com) for more information.
For additional information regarding S.T. Specialty Foods, Inc. please visit their website at www.stspecialtyfoods.com.