Brynwood Partners VII L.P., Greenwich, Conn., sold Joseph's Frozen Foods, Haverhill, Mass., to LaSalle Capital, Chicago.
Brynwood VII acquired Joseph's from Nestlé Prepared Foods Co., Solon, Ohio, in 2013. Joseph's produces premium frozen stuffed pasta and sauces for independent restaurants, national chains and foodservice, retail and industrial segments out of its 160,000-square-foot manufacturing facility. Additionally, Joseph's provides private label products and co-manufacturing services in a broad assortment of pasta-centric frozen foods.
"We are delighted to announce the sale of Joseph's to LaSalle Capital," says Hendrik Hartong III, chairman and CEO of Brynwood Partners. "We are very pleased with the outcome of this transaction. Under Brynwood VII's ownership, we worked closely with management to transform Joseph's from a business that primarily focused on providing high-quality, frozen stuffed pasta products to one that provides a broad range of meal solutions, including the expansion of the company's product offerings into frozen meals and other meal kits. We look forward to watching the business continue to evolve and grow under LaSalle Capital's ownership."
"We are grateful to the over 200 employees of Joseph's for their dedication to the business and commitment to making some of the finest frozen cuisines available," says Ian MacTaggart, president, CFO and COO of Brynwood Partners. "We wish LaSalle Capital and Joseph's management continued success."