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
"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
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 www.saralee.com for
the latest news and in-depth information about Sara Lee and its brands.
SOURCE Brynwood Partners