USA— Entrepreneurial Equity Partners (e2p), a Chicago-based private equity firm focused on the food and consumer packaged foods industries has acquired Roskam Baking Co. with intentions to merge it with Organic Milling, one of its portfolio companies established in the ‘better-for-you’ granola, snacks and ingredients category.
With over US$600 million in sales, Roskam, based in Grand Rapids, Michigan, is a leading contract manufacturer with a scaled, diversified bakery operation that spans six facilities and more than 30 manufacturing and packaging lines.
This structure gives the company the ability to produce a uniquely diverse range of frozen, refrigerated, and shelf-stable food products, while handling allergens such as peanuts and dairy, as well as specialty product types, including gluten-free and non-GMO lines, in a safe, controlled environment. Thus, the company is also recognized as a leader in food safety operating
Mark Burgett, managing partner of e2p said, “We plan to execute our consistent and repeatable playbook: growing the business by executing specific and identified initiatives to drive organic growth alongside existing and new customers and by pursuing strategic, transformative acquisitions that will enhance our manufacturing capabilities and expand our geographic reach.”
Mr, Burget while at a different firm, acquired two businesses from the Roskam family, including the assets of Hearthside Food Solutions, LLC., making this deal the third transaction executed between Burgett and Roskam.
when considering divesting the balance of the family business, Roskam Baking Co. owner Robert Roskam said he sought out Mark and the e2p team for a third time because of their deep expertise in contract manufacturing and the reliability they’ve shown as a partner to employees, customers and the Grand Rapids community.
He added that he is confident confident e2p is the best partner to carry on Roskam’s culture of excellence and long legacy of unmatched customer satisfaction.
In 2021, e2p closed its inaugural fund, Entrepreneurial Equity Partners I (Fund I) with US$423 million in aggregate capital commitments.
In addition to Organic Milling, Fund I previously invested in five platform investments, including Charcuterie Artisans (a producer of charcuterie and meats), Salm Partners (the largest US manufacturer of fully cooked sausages utilizing a differentiated, co-extrusion, cook-in-package manufacturing process), Sara Lee Frozen Bakery (a provider of frozen baked foods), World Food Holdings (a provider of authentic Mediterranean foods), and Ya Ya Foods (one of North America’s largest co-packers of aseptic food and beverage products).
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