Manischewitz, the nation’s largest manufacturer of premium kosher foods, has received an investment from Sankaty Advisors, the credit affiliate of Bain Capital. Mark Weinsten will lead the company as Chief Executive Officer.
“This transaction will allow Manischewitz to continue its storied tradition of producing the highest quality kosher products, which have delighted consumers the world over for more than 125 years. It will also enable the company to maintain its position as the world’s most iconic purveyor of kosher food,” said Yaakov Horowitz of the Orthodox Union, Head Rabbi at Manischewitz.
Manischewitz is the number one baker of matzo in the world and produces hundreds of other kosher foods including baked goods, pastas, soups, gefilte fish, sardines and borscht under Manischewitz, Rokeach, Mishpacha, Season, Guiltless Gourmet and other brands. Its products are sold through grocery chains and specialty food distributors in the United States, Canada and other locations around the world. The company was founded in 1888 and is headquartered in Newark (www.manischewitz.com).
“This investment reflects our confidence in the Manischewitz brands and team,” said Sankaty Advisors in a released statement. “Manischewitz has earned a position as one of the most highly recognized brands in the world, and it has distinguished itself through a passionate commitment to producing the highest quality kosher products possible. We believe Manischewitz is well positioned to grow due to rising mainstream interest in kosher foods.”
Sankaty Advisors is the credit affiliate of Bain Capital and invests in a variety of securities and investments globally, including leveraged loans, high-yield bonds, distressed and stressed debt, mezzanine debt, structured products and equities. The firm was founded in 1998 and has offices in Boston, New York, Chicago, London, Luxembourg and Melbourne (www.sankaty.com) (www.baincapital.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-9-14