The firm first backed Sahale way back in 2007, and made significant additional investments as the company enhanced its operating capabilities according to Palladium vice president Yue Bonnet.
Palladium said the exit represented its third major realisation of a food-related investment to a strategic buyer in recent years.
It previously sold Wise Foods to Arca Continental and Castro Cheese Company to Dairy Farmers of America.
The deal is Palladium’s second exit this year following last month’s sale of ABRA Auto Body & Glass, a leading national provider of damaged vehicle repair services.
The firm was hoping to pull in $800m for the vehicle, which would have seen it surpass the $775m it gathered for its third fund in 2005.
But strong support from LPs across Europe and the Americas helped it soar past that target as well as the $1bn hard cap, which investors in the vehicle agreed to raise.
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