Boston-based Sun Capital Partners, Inc. announced that an affiliate exited its investment in Sunrise Growers-Frozsun Foods, concurrent with an investment in the company by an affiliate of Paine & Partners, LLC. Sunrise Growers-Frozsun Foods is a Placentia, Calif.-based supplier of frozen strawberry products as well as a distributor and marketer of fresh strawberries. Terms of the private transaction were not disclosed.

Sunrise Growers’ frozen berry operations produce in excess of 130 million pounds of processed strawberry and other fruit products annually. Since the investment by an affiliate of Sun Capital in June 2008, Sunrise Growers has significantly improved growth and profitability through cost saving initiatives, facility consolidations, key customer additions, new product introductions and business rationalizations. In addition, the company stabilized its grower base and completed several equipment upgrades that increased capacity.

“Sunrise Growers’ continued success as a market leader has been fueled by a disciplined commitment to strategic operational improvements, as well as pursuing innovative and customer-focused solutions,” says Marc Leder, co-CEO at Sun Capital. “These efforts have contributed to excellent growth and improved profitability, and the company is well-positioned for future success.”

Sunrise Growers-Frozsun Foods ranked No. 13 in Refrigerated & Frozen Foods' Top 150 Frozen Food Processors report, which published in the March 2013 issue.