Stonewall Kitchen, the USA speciality meals industry, has been bought by means of Audax Personal Fairness to fellow investor TA Friends for an undisclosed sum.
York, Maine-based Stonewall Kitchen used to be based in 1991 by means of Jonathan King and Jim Stott who began out promoting jams and jellies at native farmers’ markets. Its product portfolio now comprises sauces, condiments, crackers and baking mixes with manufacturers corresponding to Vermont Village and City Accents, each the results of acquisitions. It additionally produces espresso and household items pieces corresponding to candles.
Its merchandise will also be discovered in additional than 19,000 shops national and across the world and it has ten shops in New England.
It used to be got by means of Boston-based Audax in 2019.
New proprietor TA , additionally founded in Boston, is a private-equity company targeted at the era, healthcare, monetary products and services, client and industry products and services sectors.
Reflecting on its construction below Audax, John Stiker, CEO of Stonewall Kitchen, stated: “We have now remodeled the corporate from a basically stand-alone emblem to a circle of relatives of manufacturers inside of speciality meals and household items.”
He added: “Along TA, we purpose to proceed our dynamic acquisition efforts whilst additionally rising our present circle of relatives of manufacturers. Our focal point shall be on figuring out merchandise and types that fit our fine quality requirements and which maintain and toughen our core values and corporate tradition.”
Invoice Christ, a managing director at TA, stated: “As long-time fanatics of the Stonewall Kitchen emblem and its scrumptious merchandise, we’re excited to put money into the corporate’s adventure and spouse with John and all the control crew. The tradition and industry practices at Stonewall Kitchen align intently with TA’s personal philosophy and values, and we consider that we will be able to grow to be the corporate in combination into an much more really extensive undertaking.”
Jay Mitchell, managing director at Audax, stated: “Between add-on acquisitions and natural enlargement, the corporate greater than tripled in dimension during the last 3 years. We have now loved every and each day of our partnership with all the Stonewall Kitchen crew.”
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