Pritzker Private Capital Port Co Sugar Foods Acquires Concord Foods
Acquisition Supports Growth Through Complementary Capabilities and Expertise
WESTLAKE, Calif. – (March 7, 2024) – Sugar Foods (“Sugar Foods” or “the Company”), a food company serving prominent foodservice, grocery, retail and restaurant brands, today announced the acquisition of Concord Foods (“Concord”). With the strategic acquisition of Concord’s complementary resources, capabilities and expertise, Sugar Foods will be positioned to deliver enhanced innovations and an expanded suite of services to its customers. Terms of the acquisition were not disclosed.
Founded in 1968, Concord Foods is a leading supplier of custom ingredients and retail food products, serving nationally recognized supermarkets, food service operators and food manufacturers. The acquisition adds Concord’s 255,000 square foot, state-of-the-art Brockton, MA facility to Sugar Foods’ North American operational footprint, which will play an integral role in the Company’s future growth plans. Sugar Foods also acquires Concord’s brands as part of the transaction, including Concord Fresh Success, Simply Concord, Italia Garden, Oringer and RedEMade. Concord Foods was previously owned by Arbor Investments, its founders, and management.
“Today marks a pivotal moment in Sugar Foods’ growth journey,” said Andrea Brule, President of Sugar Foods. “Concord and Sugar Foods share a long and successful history of customer-led innovation and service, and, with our complementary capabilities, I am confident that, together, we will maximize customer value and unlock new growth opportunities. This transaction combines the best of both organizations, and I look forward to welcoming the talented Brockton team to our Sugar Foods family.”
“I have long admired Sugar Foods for its diverse product categories, customer-led culture and deep commitment to quality and service,” said Robin Galloway, CEO of Concord Foods. “The Concord team is thrilled to begin its next chapter with Sugar Foods and looks forward to executing on the robust pipeline of growth opportunities ahead. I am confident that together we will be an even stronger food and ingredients provider with a broader set of capabilities to better meet customers’ needs.”
The acquisition of Concord Foods creates new market development opportunities within each of Sugar Foods’ business segments, including its Fresh Gourmet division. Sugar Foods’ foodservice distributor and chain customers will benefit from a combined network with enhanced capabilities that will fuel innovation, increase speed to market, improve customer service, and drive relevance with new menu offerings and improved marketing programs. The Company’s retailer customers will benefit from simplified logistics and vendor management, enhanced merchandising and marketing across ancillary produce categories.
Barry Bounds, head of Sugar Foods’ Fresh Gourmet division, added, “For more than 40 years, both Fresh Gourmet and Concord Foods have built produce-adjacent brands and products to drive department sales through thoughtful merchandising and cross promotions with popular fresh produce categories. We welcome Concord’s successful family of brands into the Fresh Gourmet Company umbrella and will continue to drive growth with a shared commitment to fresh forward, quality ingredients that inspire fresh produce consumption.”
“Concord Foods is an excellent strategic fit within the Sugar Foods portfolio,” said Chris Trick, Investment Partner at Pritzker Private Capital. “We are thrilled to partner with the Sugar Foods team as the Company executes value-add acquisitions to advance its growth and market expansion strategy.”
About Sugar Foods
Sugar Foods Corporation is a multinational food products company serving all segments of the marketplace – foodservice, retail, specialty and quick-service outlets. Founded in New York City in 1948, Sugar Foods’ brands include Fresh Gourmet, Mrs. Cubbison and N’Joy, along with private label and licensed products, and the company is a leader in producing crunchy toppings, croutons, beverage ingredients, pizza toppings and more products beloved by consumers. Sugar Foods has won numerous industry awards for product innovation, operational excellence and customer service. Backed by more than 1,400 employees, Sugar Foods operates four facilities across the United States and Mexico. For more information, visit sugarfoods.com.
About Concord Foods
Concord Foods, LLC is a leading supplier of retail food products and custom ingredients to nationally recognized supermarkets, food service operators and leading food manufacturers. Concord Foods’ retail division offers a wide variety of produce friendly items from Candy Apple Kits to produce seasoning mixes. Concord Foods’ ingredients division develops and custom designs products for the food service, confectionery, ice cream and dairy industries, including beverage bases, syrups, toppings, variegates, flavor bases, baking mixes, breaders and batters. For more information, visit www.concordfoods.com.
About Pritzker Private Capital
Pritzker Private Capital partners with middle-market companies based in North America with leading positions in the manufactured products and services sectors. The firm’s differentiated, long-duration capital base allows for efficient decision-making, broad flexibility with transaction structure and investment horizon, and alignment with all stakeholders. Pritzker Private Capital builds businesses for the long term and is an ideal partner for entrepreneur- and family-owned companies. Pritzker Private Capital is a signatory to the United Nations Principles for Responsible Investment (PRI). For more information, visit PPCPartners.com.
Contacts
Media:
H/Advisors Abernathy
Dan Scorpio / Lauren Hilliker
(312) 640-3111 / (212) 371-5999
dan.scorpio@h-advisors.global / lauren.hilliker@h-advisors.global