The deal is the second exit for Wind Point since the beginning of the year, following its sale of Citadel Plastics in February.
Wind Point bought Canada-based Santa Maria in January 2007 in partnership with food industry veteran Fred Jaques, who had previously been president of Kellogg Canada and general manager – cereal of Kellogg USA.
Mark Burgett, a managing director at Wind Point, said, “We have had a great partnership with Fred and the entire Santa Maria team during our ownership.
“They did an outstanding job enhancing Santa Maria’s product portfolio and expanding distribution.
“Our success at Santa Maria is an excellent example of Wind Point’s strategy of working with a top calibre team to transform a middle market business.”
Jaques commented, “During our five years of ownership, we created significant value at Santa Maria by launching over 25 new products, investing $16m in capacity expansion and operational improvements and strengthening a world-class sales and marketing team.
“We have been able to drive strong revenue growth over the period, through aggressive innovation and our continued focus on premium, specialty Italian deli and grocery brands.”
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