Arbor Investments has acquired Concord Foods, a maker and supplier of food products and custom ingredients to the consumer, foodservice and industrial markets.
Concord Foods sells to retailers, food manufacturers and food service companies through four operating divisions: Concord Foods, Oringer, Red-E-Made and Tempo. The company operates a facility in Brockton, MA (25 miles south of Boston) that is certified SQF Level 2 (Safe Quality Food), OU Kosher (Orthodox Union) and QAI Organic (Quality Assurance International). Concord Foods was founded in 1968 (www.concordfoods.com).
Concord’s retail products are grouped under the Concord Foods and Oringer divisions and include lemon & lime juice, caramel & chocolate dips, and smoothie & produce seasoning mixes that are primarily sold under the Concord Foods brand. The company’s ingredients products are grouped under the Red-E-Made and Tempo divisions and include beverage bases, confectionary fillings, toppings, caramels, baking mixes and a variety of breaders and batters for seafood and poultry.
“My family and our employees built Concord over the past forty-seven years into a highly-successful, entrepreneurial and results-oriented family business,” said Peter Neville, President and CEO of Concord Foods. “As we continue to execute on our formula for success and look to accelerate the company’s growth in the future, I believe Arbor is the ideal partner. Their knowledge and expertise in the food and beverage industry and demonstrated willingness to invest for growth will help us take advantage of Concord’s many opportunities for growth and expansion. There is a shared vision for Concord between our companies and we are excited to take Concord to the next level in our partnership with Arbor.”
“We are delighted to partner with Peter to continue his family’s legacy and the tradition of this fine company,” said Joseph Campolo, President of Arbor Investments. “Peter and his team will continue to run the company and the Neville family will retain a significant ownership stake going forward.”
Arbor invests in the food & beverage and related industries. The firm has acquired or invested in over 41 food & beverage companies in North America and currently has $700 million of assets under management across three funds. Last month, Arbor completed the sale of its Fund II portfolio company, Gold Standard Baking, a maker of frozen dough products, to Tricor Pacific Capital. The sale of Gold Standard provided Arbor with a 9.4x gross return on its investment. Arbor was founded in 1999 and is based in Chicago (www.arborpic.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 6-12-15
