©Summit Hill Foods
US-based private equity firm EagleTree Capital has announced the acquisition of cooking sauces and meal ingredients supplier Summit Hill Foods.
Founded in 1941, Summit Hill Foods is a food company known for its Better Than Bouillon, The Original Louisiana Brand Hot Sauce and Better Than Gravy brands. In addition to the retail brand portfolio, Summit Hill Foods serves as a flavour-focused solution provider and ingredient supplier to foodservice distributors, manufacturers and restaurants.
Summit Hill Foods’ operations and management teams will continue in place following EagleTree’s investment. According to the firm, some of EagleTree’s fund investors, including Misland Capital Limited, also participated in the investment.
Steve Goodyear, CEO of Summit Hill Foods, said: “Today, we embark on an exciting new chapter in the history of Summit Hill Foods and are absolutely delighted to join forces with EagleTree, whose vision and resources align seamlessly with our aspirations”.
“We see incredible opportunity for our brands Better Than Bouillon and The Original Louisiana Hot Sauce in addition to our custom bases and sauces business. EagleTree’s partnership will empower us to accelerate our growth and innovation, expand our market reach and continue providing high-quality products to our customers.”
Stuart Martin, partner at EagleTree, added: “We have been fans and customers of Summit Hill Foods’ products for a long time and are equally impressed by the company’s unique culture. Summit Hill Foods’ core values are trusting and valuing their employees, community involvement, a commitment to safety and the relentless pursuit of excellence – values we believe are key to the company’s strong performance. We are proud to be stewards of Summit Hill Foods’ special ethos and are very excited to be a part of the company’s next phase of growth.”
Terms of the transaction were not disclosed.
© FoodBev Media Ltd 2024