Brynwood Partners Acquires ConAgra’s Meatless Brand
Brynwood Partners VI L.P., Greenwich, Conn., and its newly formed portfolio company, Lightlife Foods, Inc., acquired Lightlife, one of ConAgra Foods' brands that include vegetarian-based burgers, hot dogs and other meatless refrigerated and frozen items. The acquisition includes the Lightlife manufacturing operation in Turners Falls, Mass. Terms and conditions of the transaction were not disclosed.
Lightlife Foods will be headquartered in the Boston, Mass., area and its manufacturing facility will continue to be located in Turners Falls, Mass.
As part of this transaction, Brynwood VI announced the appointments of Roy Lubetkin as president and CEO and Michael Morin as chief financial officer. Before joining Lightlife Foods, Lubetkin served as chief executive officer of Sun Country Foods, Inc., a Brynwood VI portfolio company that was divested in 2012, and prior to that served as CEO of Backyard Farms, LLC. Morin most recently served as chief financial officer of Sun Country Foods, and prior to that was CFO of Richelieu Foods, Inc., a Brynwood Partners V L.P. portfolio company that was divested in 2010.
"We are pleased to announce the acquisition of Lightlife and its manufacturing facility from ConAgra Foods," says Henk Hartong III, senior managing partner, Brynwood VI. "Lightlife is a well-known brand with excellent nutritional and wellness attributes. Lightlife has a very loyal consumer following and customer base. We look forward to investing in Lightlife Foods and extending the company's refrigerated and frozen meatless offerings."