Gryphon pulled a dividend out of the business last summer through a recap which saw Golub Capital and M&T Bank complete a syndication of the loan.
The firm created Flagstone in 2010 by merging Ann’s House of Nuts and Amport Foods.
Gryphon collected $365m for a bridge fund called Gryphon Partners 3.5 in October last year, well above its $250m target.
That fundraise followed a $415m final close for its third buyout fund in 2006 and a $100m bridge vehicle in 2008.
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