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Private equity firm buys Roskam

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CHICAGO — Entrepreneurial Equity Partners (e2p), a Chicago-based private equity firm focused on the food and consumer packaged food industries, acquired Roskam Baking Co., merging Roskam with Organic Milling announced. This company was acquired by him in December 2021. Details of the transaction were not disclosed.

Roskam, based in Grand Rapids, Michigan, provides baked products such as croutons, fillings and bread crumbs to the US retail foodservice and industrial markets. Its product line also includes snack products, candies, finishers and dry mixes. The company operates six of his facilities and manufactures over 30 packaging lines.

Mark Burgett, Managing Partner of e2p, acquired two businesses from the Roskam family while working for another company, including the assets of Hearthside Food Solutions, LLC.

“In light of the positive experience Roskam had with both transactions and the trust that has been built since those transactions, Mr. Roskam proactively contacted Mr. We have started selling the rest,” said e2p.

“Bob and I met nearly 20 years ago when we were both on family vacations in Costa Rica,” Burgett said. “Since then, we have kept in close contact and remained personal friends, which has led to meaningful mutual trust and respect, ultimately resulting in three transactions completed without the involvement of investment bankers. The close relationship that Bob and I have shared over the last 20 years is a great example of how e2p builds mutually beneficial relationships with great family business leaders like Bob.

“In this case, we are fortunate to have acquired all the rest of the business and intend to keep the Roskam name, which has an iconic reputation in the industry. The platform is scalable and well diversified. with more than $600 million in sales.In addition, we simultaneously merged Roskam with existing portfolio company Organic Milling, which has been a leading brand in this category for more than 60 years. was a leading contract manufacturer of wholesome granola, snacks and ingredients. ”

Keven Henneck, Vice President of e2p, said: This is the first acquisition of his Roskam business to take over the entire team and is very exciting given their growth track record. We are very impressed with their work ethic and dedication and look forward to helping them build on their recent success. ”

In 2021, e2p will close its first fund, Entrepreneurial Equity Partners I (e2p I or Fund I), with total capital commitments of $423 million. The e2p team is led by Managing His Partners Burgett and CJ Fraleigh. Mr. Burgett has over 20 years of experience in his private equity and financial fields. Prior to co-founding e2p, he was Managing Director at Chicago-based private equity firm Wind Point Partners, where he led investments in food and consumer products for 14 years. Prior to Wind Point, Morgan Stanley and he held senior positions in Robert W. Baird’s investment banking group. Mr. Fraleigh has more than 25 years of management experience, including as Chairman and CEO of Shearers Foods, CEO of Salary North His America, and Vice President of Cola at PepsiCo.

Burgett and Fraleigh joined the leadership team along with partner Richard G. Scalise. Mr. Scalise’s career includes roles as Chairman and CEO of Hearthside Food Solutions, President of Ralcorp Frozen Bakery Products, and President and Chief Operating Officer of his Conagra refrigerated food division. Burgett, Fraleigh and Scalise previously partnered on several of his private equity investments.

In addition to organic milling, Fund I previously owned five platforms including Charcuterie Artisans (a charcuterie and meat producer) and Salm Partners (the largest U.S. manufacturer of fully cooked sausages utilizing a differentiated co-extrusion cook-in). Invested in packaging manufacturing processes), Sara Lee Frozen Bakery (provider of frozen baked goods), World Food Holdings (provider of authentic Mediterranean cuisine), Ya Ya Foods (North America’s largest co-packaging of aseptic food and beverage products) one of the vendors) .

“We called on Mark and the e2p team for the third time because of their deep contract manufacturing expertise and the trust they have shown as employees, customers and partners in the Grand Rapids community,” said Roskam. rice field. “Over the past 100 years, my family has grown Roskam into a food manufacturing company with an industry-leading reputation for quality and reliability. We are confident that we are the best partner to carry on this long legacy.”