Encore Consumer Capital has sold its portfolio company Swirl Holdings (DBA PhillySwirl), a manufacturer and marketer of frozen novelty products, to J&J Snack Foods (NASDAQ: JJSF).
PhillySwirl is a niche manufacturer and marketer of kid-oriented frozen novelty products sold through club stores and retail grocery stores. PhillySwirl’s annual revenues are approximately $25 million. The company was founded in 1992 and is based in Tampa (www.phillyswirl.com).
“Encore is very pleased to have had the opportunity to work with the great team at PhillySwirl. The company has become the leading frozen novelty innovator for grocery and club store retailers across North America,” said Robert Brown, managing director of Encore Consumer Capital.
“I joined PhillySwirl in 2009 because I saw an opportunity for PhillySwirl to become the leading innovator in the frozen novelties space and work with a partner like Encore that understands the food industry so well and would give me the strategic guidance to succeed. I am very happy with the outcome,” said PhillySwirl CEO Jan Grywczynski.
Encore Consumer Capital invests exclusively in consumer products companies that have revenues between $10 million and $100 million and where it can utilize its own consumer experience and the expertise of its operating partners at Encore Associates, a strategic advisory firm to the consumer products industry. The firm has raised nearly $400 million in equity capital and invested in 16 companies. Encore Consumer Capital was founded in 2005 and is headquartered in San Francisco (www.encoreconsumercapital.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-7-14
