Richelieu Foods Acquires Sara Lee's Sauces and Dressings Foodservice Business

Sep 02, 2008, 01:00 ET from Brynwood Partners

    RANDOLPH, Mass., Sept. 2 /PRNewswire/ -- Richelieu Foods, Inc. is
 pleased to announce that it has acquired the Sauces and Dressings business
 from Sara Lee Foodservice. The Sauces and Dressings business manufactures a
 variety of products including: salad dressing, mayonnaise and barbeque
 sauce for national restaurant and foodservice distribution customers. The
 transaction closed on August 30, 2008, and the terms were not disclosed.
 Sara Lee's retail sauce and dressing products are not impacted by this
     As part of this transaction, Richelieu has acquired the Sauces and
 Dressings manufacturing facility located in Elk Grove Village, Illinois.
 Richelieu will become a manufacturer for the Sara Lee Foodservice DSD
 Coffee network, which will continue to supply its customers with sauce and
 dressing products. It plans to continue to operate the Elk Grove facility
 and integrate this division into its existing business after a short
 transition period with Sara Lee Foodservice.
     "This acquisition positions Richelieu as one of the most significant
 national manufacturers of sauces and dressings for the private label
 channels," said Henk Hartong, Chairman of Richelieu Foods and Managing
 Partner of Brynwood Partners. "We are pleased to welcome so many new
 customers to our business and will look forward to continuing to provide
 the outstanding service and high quality products that these customers have
 come to expect from Sara Lee Foodservice and the Elk Grove facility."
     Richelieu Foods is a leading manufacturer of dressing, sauces and
 frozen pizza focused primarily on private label retail and foodservice
 customers. Richelieu currently operates a state-of-the-art dressing and
 sauces manufacturing facility in Grundy Center, Iowa. The acquisition of
 the Elk Grove facility from Sara Lee Foodservice will enable Richelieu to
 expand its product and packaging capabilities for all of its existing and
 new customers.
     "This is a transformational acquisition for Richelieu," said Vincent
 Fantegrossi, President and CEO of Richelieu Foods. "We are now able to
 provide an expanded product line to all of our customers, new packaging
 formats and greater manufacturing capacity and flexibility throughout our
 customer base."
     Richelieu Foods, headquartered in Randolph, Massachusetts has
 manufacturing facilities in Grundy Center, Iowa, Beaver Dam, Wisconsin and
 Washington Courthouse, Ohio. The company, with sales of approximately $200
 million, is a store brand and contract packing manufacturer of frozen
 pizzas, salad dressing, sauces, marinades, condiments and deli salads.
     Brynwood Partners, located in Greenwich, Connecticut, was founded in
 1984. Brynwood Partners is a private equity fund which makes control
 investments in lower middle market companies targeting consumer products,
 light industrial manufacturing, specialty retailing and business services.
 The principals of Brynwood Partners have made investments in 21 portfolio
 companies and have successfully partnered with management to grow
 businesses through the financial and operating support that Brynwood
 Partners uniquely provides.
     About Sara Lee Corporation
     Each and every day, Sara Lee (NYSE:   SLE) delights millions of consumers
 and customers around the world. The company has one of the world's
 best-loved and leading portfolios with its innovative and trusted food,
 beverage, household and body care brands, including Ambi Pur, Ball Park,
 Douwe Egberts, Hillshire Farm, Jimmy Dean, Kiwi, Sanex, Sara Lee and
 Senseo. Collectively, these brands generate more than $13 billion in annual
 net sales covering approximately 200 countries. The Sara Lee community
 consists of 44,000 employees worldwide. Please visit for
 the latest news and in-depth information about Sara Lee and its brands.

SOURCE Brynwood Partners