Nestlé acquired Joseph’s in 2006, while Brynwood made the investment via its Fund VII vehicle and a newly-formed portfolio company, JPC Acquisition Co,
The Joseph’s business, headquartered in Haverhill, Massachussets, manufactures and markets premium frozen stuffed pasta for the foodservice segment, employing over 300 individuals.
This acquisition marks the first for Brynwood VII, Brynwood Partners’ largest and most recently raised fund with $400m of committed capital. Including Joseph’s, Brynwood Partners has now completed five acquisitions from Nestlé. Earlier in 2013, Brynwood Partners VI’s portfolio company, Pearson Candy Company, acquired the Bit-O-Honey brand from Nestlé.
Prior investments by Brynwood Partners in the food space also include Sun Country Foods, Balance Bar Company, Lincoln Snacks Company, and Signature Snacks Company.
Founded in 1984, Brynwood Partners currently manages more than $900m of private equity capital, focused on the North American consumer space.
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