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BGL facilitates sale of Crest Foods and Arctic Industries
Phoebe Fraser

Phoebe Fraser

22 February 2024

BGL facilitates sale of Crest Foods and Arctic Industries

Brown Gibbons Lang (BGL) has this week announced the sale of Crest Foods and Arctic Industries to two separate buyers. On Tuesday (20 February), BGL advised Harwood Private Equity in its acquisition of Crest Foods, a supplier of dairy stabilisers, contract packaging and branded and private label dry food manufacturing. Founded in 1946, Crest Foods serves branded and private-label customers. As a result of Harwood’s acquisition – which is set to lead Crest into its next phase of growth – BGL facilitated a sale-leaseback of its 575,000-square-foot contract packaging, distribution and warehousing facility in Ashton, Illinois, US. Yesterday (21 February), BGL announced the sale of Arctic Industries to Chicago, US-based private equity firm Kinzie Capital. With locations in Miami and Los Angeles, US, Arctic Industries is a manufacturer and distributor of engineered walk-in coolers, freezers and insulating enclosures serving the foodservice, commercial, industrial, healthcare, hospitality, agriculture and home use markets. The acquisition is set to propel Arctic’s growth, with an opportunity to leverage its bi-coastal manufacturing capabilities to grow market share and expand its relationships with national foodservice dealers and end users. Financial terms of the deals were not disclosed.

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