Chicago, Illinois-headquartered LaSalle Capital has acquired Joseph’s Frozen Foods from Brynwood Partners VII. Terms and conditions of the transaction, announced on October 23, were not disclosed
Greenwich, Connecticut-based Brynwood Partners purchased Joseph’s from Nestlé Prepared Foods Company in 2013. With headquarters in Haverhill, Massachusetts, it employs over 200 people and operates a 160,000-square-foot manufacturing facility that makes premium frozen stuffed pasta and sauces sold under the Joseph’s Gourmet Pasta brand name to independent restaurants, national chains and other foodservice customers as well as retail and industrial clients. Additionally, it provides private label products and co-manufacturing services in a broad assortment of pasta-centric frozen foods.
Among Joseph’s offerings are cannelloni, ravioli, tortellini, tortellacci, gnocchi, pasta nests and manicotti. Its wide range of more than 200 products is created from traditional recipes that specify artisan quality pasta and other ingredients.
“We are delighted to announce the sale of Joseph’s to LaSalle Capital,” said Hendrik Hartong III, chairman and chief executive officer of Brynwood Partners. “We are very pleased with the outcome of this transaction, and look forward to watching the business continue to evolve and grow under LaSalle Capital’s ownership.”
During the past five years Joseph’s was transformed from a business that primarily focused on producing premium frozen stuffed pasta products to one that provides a broad range of meal solutions including frozen meals and meal kits.
About Brynwood Partners
Founded in 1984, Brynwood Partners focuses on making control investments in lower-middle market commercial enterprises in North America. Managing more than $1 billion of private equity capital for limited partners, the firm targets non-core brands or companies operating exclusively in the consumer sector. It has acquired over 50 brands from 20 different corporate sellers during the past 35 years.