HIG Capital sells breaded meat business Albertville after seven years in portfolio

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Global private equity investor HIG Capital has agreed to exit breaded meat products business Albertville Quality Foods to trade buyer OK Foods.

The deal brings HIG’s seven-year holding of the company to and end. The firm bolted Sunrise Foods on to Albertville in 2012.

HIG managing partner Richard Stokes said, “We are proud to have partnered with the Albertville management team during this critical phase of growth for the Company.

“Through substantial investment in people, products and facilities, Albertville has developed into a market leader in the areas of innovation, quality and food safety.”

Two years ago HIG Capital’s European arm bought UK ready-made-food business Adelie Foods from leisure and tourism investor India Hospitality Corporation.

HIG Capital closed its Middle Market LBO Fund II on its $1.75bn hard cap in 2014, after a speedy fundraise that lasted just two months.

The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30bn.

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