Ancor Sells Simply Fresh to Sequel

Ancor Capital Partners has sold Simply Fresh Foods to Lakeview Farms, a portfolio company of Sequel Holdings.

Ancor acquired Simply Fresh Foods (then Fresh Food Concepts, the name was changed in January 2015) in December 2010. Today, Simply Fresh Foods produces fresh, all-natural foods for segments of the refrigerated products market across a range of channels.

Simply Fresh Foods markets its products under several brands including Rojo’s, which makes salsas and dips (www.rojossalsa.com), and San Francisco Foods, which makes seafood salads, grain salads, dips and spreads (www.sf-fds.com). The company is headquartered in Buena Park, CA (www.simplyff.com).

“Ancor has made significant investments to support Simply Fresh Foods and taken the company to the next level,” said Ray Kingsbury, a partner at Ancor Capital Partners. “We have enjoyed the lasting relationships and culture that we have been able to build within the company over the course of our investment. The operation’s exclusive portfolio of leading brands and superior distribution model into nontraditional retailers have provided a powerful platform to enhance the company’s value and establish Simply Fresh Foods as an elevated player in the industry.”

“Partnering with Simply Fresh Foods’ CEO Dale Jabour and his talented leadership team on key strategic initiatives has enabled us to expand the company’s foothold in this niche market,” added Mr. Kingsbury. “I am confident the company is well-positioned for continued, sustainable growth. We believe Lakeview Farms will be an excellent partner for Simply Fresh Foods going forward.”

Sequel Holdings acquired Lakeview Farms in February 2015. The firm previously held an ownership interest in the company beginning in 2004 then sold the company in 2011 to an investor group composed of Sankaty Advisors and Granite Capital Partners.

Today, 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).

Ancor Capital Partners invests in companies with enterprise values of $25 million to $150 million that have EBITDAs from $5 million to $15 million. Sectors of interest include health care, consumer staples, industrial manufacturing, automotive and emerging industries. The firm is headquartered in the Dallas suburb of Southlake, TX (www.ancorcapital.com).

Sequel Holdings invests in lower middle market companies that have EBITDAs greater than $4 million and enterprise values between $25 and $125 million.  Sectors of interest include food & beverage, agribusiness, plastics, and specialty materials.  The firm is headquartered in Dallas (www.sequelholdings.com).

© 2018 Private Equity Professional | December 14, 2018 

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