Private equity firm Vestar Capital Partners is buying a majority stake in American Roland Food Corp.
New York-based American Roland imports specialty food products from more than 40 countries. The company sells the Roland brand, as well as Don Bruno, Chef Susanna’s, Costamar and Consul brand foods. Terms of the deal were not disclosed.
Vestar, headquartered in New York, is a private equity firm that usually invests between $50 million and $200 million in U.S.-based middle market companies. Since it was founded in 1988, the firm has invested more than $40 billion in 70 companies.
Wells Fargo Securities LLC was Vestar’s financial adviser for the transaction, while BMO Capital Markets and GE Capital Markets provided financing for the deal. Kirkland & Ellis was the buyer’s legal counsel.
Evercore partners served as American Roland’s financial adviser, while McDermott Will & Emery LLP provided legal advice.
Other recent food deals include Pinnacle Foods Inc.’s purchase of the Wish-Bone and Western dressings brands, and Campbell Soup Co.’s (NYSE: CPB) sale of some of its European brands.
For more on the food sector, see “Snack Time.”