Illinois-based investment firm Pritzker Private Capital has acquired Sugar Foods Corp., a US-based business.
Based in Westlake Village, California, Sugar Foods is the manufacturer of croutons, cheese snacks, and tortilla strips marketed under the Fresh Gourmet and Mrs. Cubbison brands. In addition, the company produces pizza toppings and serves the beverage industry with its N’Joy line of stick creamers and EcoStick sweeteners.
Sugar Foods caters to a diverse clientele, serving both retail and foodservice sectors, and providing products to private-label customers as well. Established in 1948, the company operates across five facilities in the United States and Mexico, with a workforce of over 1,400 employees.
In a statement, Pritzker Private Capital (PPC), a privately-held family business, chose not to disclose the financial terms of the acquisition of Sugar Foods. This transaction involved an investment from the existing management team of Sugar Foods, who will continue to lead the company after the takeover. The management team is led by President Andrea Brule and CEO Marty Wilson.
Wilson said, “We sought to partner with PPC because of their track-record honouring family legacies and their shared commitment to our core values.
“With their support, Sugar Foods will be even better positioned to pursue exciting organic and acquisition growth opportunities, while preserving our rich employee-focused culture.”
As indicated on PPC’s official website, their portfolio of investments in the food sector encompasses a significant stake in Monogram Foods, a company located in Memphis, Tennessee, specializing in the production of meat snacks and appetizers.
Additionally, PPC maintains complete ownership of C.H. Guenther & Son, a company headquartered in San Antonio, Texas, that specializes in providing bakery products and frozen appetizers.
Chris Trick, an investment partner at PPC, added, “The company is led by a strong team, and we continue to be impressed by its robust capabilities and track record of successful product innovations.
“We look forward to partnering with the Sugar Foods team through the company’s next chapter, as they capitalise on compelling growth opportunities, pursue strategic add-on acquisitions and further cement the company’s position as a partner of choice to its customers.”