Brynwood Partners VIII L.P. announced that its newly formed portfolio company, Great Kitchens Food Company Inc., has acquired ARYZTA North America’s take-and-bake pizza business. Terms and conditions of the deal are not being disclosed.
Great Kitchens will be headquartered in Romeoville, Illinois, and will continue to operate in Chicago Heights, Illinois, and Romeoville, Illinois. The facilities employ approximately 700 employees.
Great Kitchens is the market leader in private label take-and-bake pizza. The company’s pizzas and flatbreads are sold to grocery, club and mass retailers, as well as into foodservice outlets nationally.
“We are thrilled to announce the creation of Great Kitchens,” said Henk Hartong III, chairman and CEO of Brynwood Partners. “We are excited to return to the private-label pizza space with this new investment. Our prior investment in the private-label frozen pizza space with Richelieu Foods, Inc. was very successful, and we are confident in the prospects for Great Kitchens. We look forward to bringing a significant level of investment in new products and recipe innovations to our retail partners through our best-in-class facilities.”
Added Ian MacTaggart, president, CFO and COO of Brynwood Partners, “On behalf of Brynwood Partners, I would like to sincerely thank the ARYZTA team for being such great partners on this carveout. This is the first deal we have done together, and we look forward to continuing our relationship. With this acquisition, Brynwood Partners, has now acquired 56 brands from 21 different corporate sellers.”
Greenwich, Connecticut- based Brynwood Partners was represented by Winston & Strawn LLP on legal matters and did not have investment banking representation. BMO Capital Markets served as the investment advisor to ARYZTA.