PPC Partners has acquired C.H. Guenther & Son, a producer of branded and private label food products. The company was founded in 1851 by German immigrant Carl Hilmar Guenther and has been continuously owned by Guenther family members since its founding.
C.H. Guenther & Son (CHG) manufactures and markets a wide variety of grain-based and seasoning products, including artisan breads, buns, rolls, biscuits, gravy mixes, frozen appetizers, spices and desserts. Company-owned brand names include Pioneer gravies, seasonings and baking products; Morrison mixes; Tribeca artisan breads; Sun-Bird Asian seasonings; Cuisine Adventure frozen appetizers and snack products; and White Wings tortilla mixes. CHG’s products are sold globally to the foodservice, quick serve restaurant, club and retail sectors.
CHG employs over 2,500 people in 19 food manufacturing locations in the US, Canada and Western Europe. The company is headquartered in San Antonio (www.chg.com).
“CHG is a clear market leader with an outstanding management team,” said Tony Pritzker, Chairman and CEO of PPC Partners. “Combining our flexible capital base and industry knowledge with this management team will enable the company to generate new opportunities for growth while continuing the family legacy.”
“CHG has a long history of partnering with customers to provide iconic and high-quality products and services. We are delighted to partner with Dale Tremblay, CEO, and his team for the next chapter of CHG’s growth, both through organic initiatives and accretive acquisitions” said Michael Nelson, PPC Partners investment partner. “We believe CHG represents an excellent platform for us to accelerate our investment in the food manufacturing sector.”
PPC Partners acquires North America-based middle-market companies that have enterprise values between $100 million and $750 million and EBITDA in excess of $15 million. Sectors of interest include manufactured products, services and healthcare. The firm is led by Tony Pritzker and the former investment and operating professionals of Pritzker Group Private Capital. PPC Partners has offices in Chicago and Los Angeles (ww.PPCPartners.com).
The acquisition of CHG was led by PPC Partners in partnership with co-investors and management who will continue to lead the company. “For over 166 years, C.H. Guenther has provided innovative products with excellent customer service to leading global customers. We are delighted to partner with a group like PPC Partners that shares our values and commitment to employees, customers and suppliers,” said Dale Tremblay, CEO of C.H. Guenther.
© 2018 Private Equity Professional | April 4, 2018