AGR Partners, a provider of minority equity and subordinated debt to food and agribusiness companies, has made an investment in Almark Foods.
Almark Foods is a provider of hard-boiled, peeled eggs to retailers, convenience stores, restaurant chains and salad manufacturers. The company has three facilities which produce a variety of egg products including peeled and ready-to-eat hard-cooked eggs, frozen diced eggs, deviled egg kits and colored Easter eggs. Almark Foods was founded in 1979 and is headquartered northeast of Atlanta in Gainesville, GA (www.almarkeggs.com).
“This is a significant strategic partnership for Almark Foods and we’re very pleased to have the support of AGR Partners,” said Don Stoner, president of Almark. “AGR’s long-term vision for the business is consistent with and complementary to our ESOP employee ownership model, and their investment enables us to accelerate our expansion plans in order to serve our customers’ needs.”
AGR Partners invests from $25 million to $75 million in private and publicly-traded agribusinesses and food companies. Sectors of specific interest include superfoods (such as Greek yogurt, blueberries, kale, broccoli and green tea) and nutraceuticals; vegetable and animal based protein, including seafood; companies serving higher food demand needs in emerging markets; businesses with real assets as a hedge against and inflation; organizations that have partners with aligned goals, including cooperatives or family-owned companies. AGR was founded in 2012 and has offices near Sacramento in Davis, CA (headquarters) and in Chicago (www.agrpartners.com).
“We are excited to partner with Don Stoner, John Stanton and the Almark team to support their growth plans to increase production of their products that customers increasingly demand due to the convenience, high protein and healthy food product profile,” said Ejnar Knudsen, CEO of AGR Partners. “We look to support best-in-class businesses with great partners; our investment in Almark Foods aligns closely with this goal.”
Over the past three years, AGR has invested over $200 million in six portfolio companies. In addition to Almark Foods, AGR’s five other portfolio companies include Ridley (animal feed); Opal Foods (generic and specialty eggs); SEMO Milling (dry corn mill), 3D Corporate Solutions (pet food ingredients); and Tru-Test Group (a dairy and livestock equipment manufacturer).
© 2016 Private Equity Professional • 8-11-16