Wind Point Partners, a Chicago-based private equity firm, partnered with experienced food executive Milt Liu and management to acquire Pacifica Foods, Corona, Calif., and Stir Foods, Orange, Calif.
Pacifica and Stir are custom manufacturers of soups, sauces, dressings, fresh salsas and muffin batters for retail and foodservice customers. The acquisition of these businesses will allow both companies to better service existing customers through a more diverse set of product and packaging offerings (sizes and formats), additional capacity for growth and greater culinary expertise and resources.
"Pacifica Foods and Stir Foods are leaders in the attractive custom food manufacturing industry," says Joe Lawler, principal at Wind Point. "Our investment will support the strong cultures established by the ongoing ownership and current management teams to continue to deliver strong quality and customer service and grow with our customers. I am equally excited about partnering with Milt Liu, who brings decades of highly relevant leadership experience in food manufacturing and retail."
Liu joined as chief executive officer, while Dave Beré, a Wind Point executive advisor partner and long-time consumer products and foodservice executive, joined as non-executive chairman.
Pacifica and Stir's four production facilities will remain open, and management from both companies will continue to be involved in the go-forward business.