Ready Pac Foods, Inc. Announces Investment by Bayside Capital
IRWINDALE, Calif., April 10 /PRNewswire/ -- Ready Pac Foods, Inc. ("Ready Pac" or the "Company") announced today that it has received a strategic investment from Bayside Capital, a leading private equity firm. Ready Pac is an industry recognized innovator of fresh cut produce and fresh prepared foods with facilities located throughout the United States. The Company has been delivering the highest quality packaged salad, fruits and vegetables for over 30 years. Terms of the transaction were not disclosed. Ready Pac Chairman and CEO Dennis Gertmenian commented, "We are excited to partner with a premier private equity firm to help facilitate our growth. Bayside's investment allows us to accelerate our 38 year history of partnering with our customers to bring high quality innovative new products to market while providing excellent service." Bayside views our investment in Ready Pac as a flagship investment in the fast growing fresh prepared foods industry segment. We will leverage our financial resources to enhance the company's operational excellence and industry leadership," said Tiffany Kosch of Bayside Capital. "The Company has an outstanding management team, leading market position and, with our resources, is well-positioned to capitalize on the many opportunities created by the strong customer demand for its products," added Anthony DiSimone of Bayside Capital. About Bayside Capital Bayside Capital is an affiliate of H.I.G. Capital, a leading private equity investment firm specializing in acquisitions and recapitalizations of middle market businesses. Based in Miami, Florida, and with offices in Atlanta, Boston, and San Francisco, the firm is one of the most active private equity investors in small and medium-sized companies. H.I.G. manages in excess of $3 billion of committed equity capital to support its investment activities. For more information, visit www.readypac.com.
SOURCE Ready Pac Foods, Inc.
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