BOSTON–(Small business WIRE)–Audax Private Equity (“Audax”) today introduced that it has done the sale of Stonewall Kitchen (“Stonewall” or the “Company”), a main service provider of branded specialty foods and property excellent solutions, to TA Associates.
Recognized in 1991 and headquartered in York, Maine, Stonewall Kitchen area serves its specialty food items and property goods products and solutions to extra than 8,500 wholesale accounts nationwide and internationally. In addition, Stonewall operates eleven retail spots in the course of New England and provides its items via catalogs and an sector-leading direct-to-buyer internet site.
Given that currently being acquired by Audax in 2019, Stonewall Kitchen has undergone a interval of substantial transformation, progress, and achievements, like:
- Bolstering the M&A system with five increase-on acquisitions, like Vermont Village®, Village Candle®, Urban Accents®, Vermont Coffee Company® and Michel Structure Works®
- Expanding the Company’s products offerings in superior-development home goods segment and
- Driving significant development across wholesale, branded retail and immediate-to-customer channels, which includes acquiring and launching a new company web site and driving on-line cross-selling involving obtained manufacturers.
Jay Mitchell, Running Director at Audax, reported, “Stonewall is an iconic model, and we had been honored to associate with John Stiker and the whole Stonewall management workforce to help increase the company. Amongst insert-on acquisitions and organic growth, the Corporation additional than tripled in size more than the past 3 years. We have enjoyed each and each and every working day of our partnership with the overall Stonewall Kitchen group, and we appear ahead to following the Company’s continued achievement for lots of several years to arrive.”
“Since day 1, Audax has been aligned with and supportive of our growth approach, mission, and main values,” stated John Stiker, CEO of Stonewall Kitchen area. “One of the reasons we ended up energized to companion with Audax was their emphasis on the Obtain & Create strategy. We have transformed the Organization from a mostly standalone brand name to a family of brands within just specialty meals and house merchandise. We are grateful for the authentic partnership that our staff experienced with Audax. It complemented our vision, aided us grow our abilities and choices, and took the Enterprise to levels we could not have foreseen just a number of many years back.”
Harris Williams is serving as lead economical advisor and Robert W. Baird is serving as a co-advisor. Kirkland & Ellis and Fredrikson & Byron P.A. are serving as authorized advisors to Audax Personal Equity.
About Audax Personal Fairness
Audax Team is a leading substitute financial commitment manager with offices in Boston, New York, and San Francisco. Due to the fact its founding in 1999, the agency has lifted about $30 billion in cash throughout its Non-public Equity and Non-public Credit card debt businesses. Audax Non-public Equity has invested about $9 billion in 150 platforms and more than 1,050 incorporate-on companies, and is now investing out of its $3.5 billion, sixth non-public fairness fund. By way of its disciplined Get & Establish approach, Audax Non-public Equity seeks to support platform corporations execute add-on acquisitions that gas profits progress, optimize functions, and drastically maximize equity worth. With extra than 300 staff, Audax is a major money partner for North American center marketplace companies. For more details, take a look at the Audax Personal Equity website: www.audaxprivateequity.com or follow us on LinkedIn.
About Stonewall Kitchen area
Stonewall Kitchen is a main specialty foods, house goods and own treatment producer headquartered in York, Maine. Established in 1991 by associates Jonathan King and Jim Stott, the two established the Stonewall Kitchen area brand by selling jams and jellies at local farmers’ markets with a flavorful line of unique and superior-quality merchandise. About time, they expanded the brand name to consist of sauces, condiments, crackers and baking mixes, usually focusing on ground breaking products enhancement, gorgeous packaging, and fantastic visitor service. These days, Stonewall Kitchen area is the premier specialty food items and household products platform in North The usa, dwelling to a spouse and children of premium quality makes which includes the flagship Stonewall Kitchen area brand name the Michel Design Operates model of elegantly intended and crafted particular and household care products and solutions the Vermont Espresso Enterprise model of high high-quality, non-GMO, certified organic espresso the Urban Accents brand of globally-motivated spice mixes, seasonings, and sauces the Village Candle brand of fragranced candles, gifts and extras the Tillen Farms brand of pickled vegetables and cocktail cherries the Napa Valley Naturals manufacturer of olive oils, culinary oils, balsamic vinegars and wine vinegars the Montebello manufacturer of artisan natural and organic pasta imported from Italy the Vermont Village brand name of natural apple sauce and apple cider vinegars and the Lawful Sea Foodstuff model of restaurant-quality seafood sauces and condiments. The business can be uncovered in additional than 19,000 retailers nationwide and internationally, boasts a flourishing catalog and on the net division, and operates ten retail Firm Shops throughout New England. As winners of 34 prestigious awards from the Specialty Foods Affiliation and the receiver of the coveted Remarkable Product or service Line Honors 3 situations, Stonewall Kitchen is very pleased to be 1 of the most awarded specialty food stuff businesses in the country.
For extra data about Stonewall Kitchen, you should visit: www.stonewallkitchen.com.