EagleTree Capital, a private equity firm headquartered in the United States, has revealed its acquisition of Summit Hill Foods, a supplier specializing in cooking sauces and meal ingredients.
Established in 1941, Summit Hill Foods is a renowned food company recognized for its brands, including Better Than Bouillon, The Original Louisiana Brand Hot Sauce, and Better Than Gravy. Apart from its retail brand lineup, Summit Hill Foods functions as a solution provider with a focus on flavors and serves as an ingredient supplier to foodservice distributors, manufacturers, and restaurants.
Following EagleTree’s investment, the operational and management teams of Summit Hill Foods will remain unchanged. The firm notes that certain fund investors of EagleTree, including Misland Capital Limited, have also taken part in the investment.
Steve Goodyear, CEO of Summit Hill Foods, said, “Today, we embark on an exciting new chapter in the history of Summit Hill Foods and are absolutely delighted to join forces with EagleTree, whose vision and resources align seamlessly with our aspirations”.
“We see incredible opportunity for our brands Better Than Bouillon and The Original Louisiana Hot Sauce in addition to our custom bases and sauces business. EagleTree’s partnership will empower us to accelerate our growth and innovation, expand our market reach and continue providing high-quality products to our customers.”
Stuart Martin, partner at EagleTree, added, “We have been fans and customers of Summit Hill Foods’ products for a long time and are equally impressed by the company’s unique culture. Summit Hill Foods’ core values are trusting and valuing their employees, community involvement, a commitment to safety and the relentless pursuit of excellence – values we believe are key to the company’s strong performance. We are proud to be stewards of Summit Hill Foods’ special ethos and are very excited to be a part of the company’s next phase of growth.”
Terms of the transaction were not disclosed.
