Westminster Foods, a portfolio company of LaSalle Capital, has acquired syrup maker H. Fox & Co. This add-on acquisition expands Westminster’s existing sauce, syrup and condiment business.
H. Fox & Co. is a manufacturer of chocolate and other flavored syrups sold through retail and foodservice channels under the Fox’s and Fox’s U-bet brands. The company was founded in 1895 by Herman Fox and is based in Brooklyn, NY (www.foxsyrups.com).
Westminster Foods is an all-natural food holding company created through the combination of Westminster Cracker Company, Gold’s Pure Foods and Dr. Lucy’s. Westminster Cracker Company, based in Rutland, VT, manufactures oyster crackers and other snack crackers that are sold to restaurants and other foodservice establishments (www.westminstercrackers.com). Gold’s Pure Foods, based in Hempstead, NY, manufactures all-natural horseradish, mustards and other condiments (www.goldshorseradish.com). Dr. Lucy’s, based in Norfolk, VA, makes gluten-free and allergen-free baked goods sold primarily at retail (www.drlucys.com). Westminster Foods, led by Chief Executive Officer, Bob Abramowitz, has been a portfolio company of LaSalle Capital since July 2015.
“We’re very happy to add Fox to our growing sauces and syrup portfolio. Like Gold’s horseradish, Westminster crackers and Lucy’s snacks, the Fox brand is well known for premium quality and authenticity,” said Mr. Abramowitz.
LaSalle Capital is currently investing its second fund which makes control investments of $5 million to $20 million in companies with revenues from $10 million to $100 million and EBITDA greater than $2 million. Sectors of interest include food & beverage and outsourced business services. LaSalle Capital is based in Chicago (www.lasallecapitalgroup.com).
© 2016 Private Equity Professional • 8-23-16
