Private Equity Firm Sells L&L Foods to Peacock Engineering
CIC Partners, a Dallas, Texas-based middle-market private equity firm, sold L&L Foods to Peacock Engineering, Geneva, Ill. Terms were not disclosed.
L&L Foods is a provider of high-volume, single-serve/portion-control food packages based in Anaheim, Calif. The company’s products are primarily used in prepared salad packages and food-away-from-home venues, such as quick-serve restaurants, cash and carry outlets and airlines. L&L will continue to be led by founder and CEO John Pooley, who has extensive experience in the supply chain and food industry.
CIC originally partnered with Pooley in October 2012 to support further growth in the company. Since CIC’s acquisition, L&L expanded its leadership team, added significant production capabilities, built a second production facility in Ohio, upgraded financial and operational reporting systems and successfully grew its customer base. As a result, it has more than tripled in size in less than three years.
Peacock Engineering is a current portfolio company of Charlesbank Capital Partners, a Boston-based private equity firm.