Sequel Holdings has acquired Lakeview Farms, a manufacturer of refrigerated desserts, dips and sour cream. Sequel held an ownership interest in Lakeview Farms beginning in 2004 then sold the company in August 2011 to an investor group composed of Sankaty Advisors and Granite Capital Partners.
Lakeview Farms manufactures, markets and distributes branded and private label dessert products, dips, and sour cream through the retail and foodservice channels, including major retailers and mass merchandisers. Company brand names include Lakeview Farms, as well as Luisa’s, Senor Rico and Winky. Recently, Lakeview has focused on the growing Hispanic market, introducing products and brands in both the dessert and dip categories. The company was founded in 1988 and is based in Delphos, OH (www.lakeviewfarms.com).
“We have a long history of working effectively with Sequel Holdings” said Gene Graves, President and CEO of Lakeview Farms. “They know and value our products, our people and our company. Sequel is aligned and fully supportive of our plans to grow our business and our ongoing efforts to consolidate our manufacturing operations. I can’t think of a better partner to support us at this pivotal time in the development of our company.”
“We are very pleased to have this opportunity to partner once again with Lakeview Farms and its management team. Lakeview’s commitment to high quality products and exceptional customer service has enabled it to continue to grow its product offerings in the deli and the refrigerated sections of the store,” said John Madden, Managing Partner of Sequel Holdings. “We look forward to supporting Lakeview as it works to complete the consolidation of its manufacturing capabilities and to expand its product offerings and the distribution of its products.”
Sequel Holdings invests in lower middle market companies that have an EBITDA greater than $5 million and an enterprise value between $20 and $200 million. Sectors of interest include food & beverage, agribusiness, plastics, and related industrial sectors. The firm is headquartered in Dallas (www.sequelholdings.com).
Co-investing with Sequel in this transaction were Boston-based Falcon Investment Advisors (www.falconinvestments.com) and Chicago-based WP Global Partners (www.wpglobalpartners.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-11-15
