Patriot Pickle, a maker and distributor of pickles and a portfolio company of Swander Pace Capital, has acquired First Place Foods.
First Place Foods manufactures a wide variety of fermented (shelf stable) and refrigerated pickles, relishes, and other pickled vegetables that are sold to the restaurant, foodservice, institutional, and retail markets. Third-generation family-owned First Place Foods, led by President Pat Hunn, operates manufacturing and warehousing facilities near Dallas in Garland, Texas.
“For more than 15 years, First Place Foods has been a high-quality manufacturer and supplier of pickles and other pickled vegetables to our valued customers across the country. We are excited to partner with Patriot Pickle and Swander Pace for this next phase of growth,” said Mr. Hunn.
Patriot Pickle is a maker of pickles and other fermented products including sauerkraut, peppers, and pickled green tomatoes. The company’s private label and branded products – sold under the K&Z, Regal Crown Foods, Natural Harvest, and PickleAde – are sold through the foodservice channel to distributors, restaurant chains, supermarkets, and delis. Wayne, New Jersey-headquartered Patriot Pickle was founded in 2004 and has 115,000 square feet of production facilities.
“The First Place Foods acquisition is a transformative opportunity allowing Patriot Pickle to expand geographically, capitalize on national sales opportunities, and provide our customers with dual source manufacturing,” said Bill McEntee, CEO of Patriot Pickle. “Fresh, refrigerated pickles are a key growth area for our foodservice and institutional partners and we are excited to be able to better serve them more directly with this acquisition.”
The buy of First Place Foods by Patriot Pickle follows its April 2022 buy of Farm Ridge Foods, a Long Island-based producer of branded, private label, and third-party branded prepared foods including olives, pickles, salads and entrees that are sold through supermarkets, restaurants and delis.
“The broader pickled and fermented foods category has enjoyed strong topline growth as consumers continue to gravitate towards healthier snacks, and Patriot Pickle is well positioned to take advantage of this consumer tailwind,” said Corby Reese a managing director at Swander Pace. “First Place Foods is the second acquisition for Patriot Pickle, and we believe there are additional opportunities to continue building out this exciting growth platform.”
Swander Pace invests in middle-market consumer products companies that have revenues of up to $500 million. Sectors of interest include food and beverage, body and wellness, and home and family. Swander Pace is headquartered in San Francisco with additional offices near New York City in Bedminster, New Jersey, and near Toronto in Mississauga, Ontario.
© 2023 Private Equity Professional | May 24, 2023
