Triangle Capital Corp., (TCAP) Raleigh, N.C., said it closed a $7.5 million subordinated debt investment in private label processorFrozen Specialties Inc., Holland, Ohio.

"The private label food industry is experiencing favorable market conditions as increasingly cost conscious consumers gravitate toward high quality alternatives to branded products," said Garland Tucker III, Triangle president and CEO. " TCAP is excited to partner with FSI's management team and continue its expansion in the private label value pizza market."

Refrigerated & Frozen Foodsrecently profiled Frozen Specialties in its July 2009 private label processing feature. For more information, see the magazine's digital edition at