Gourmet Culinary Holdings, a portfolio company of AUA Private Equity Partners LLC, has acquired Gourmet Foods Inc. Financial terms weren’t announced. Gourmet Culinary makes and distributes specialty prepared foods including soups, sauces, hors d’ oeuvres, appetizers, side items, and breakfast dishes serving the airline, hospitality, restaurant, catering, retail and corporate campuses industries.
NEW YORK, NY – July 31, 2019 – AUA Private Equity Partners, LLC (“AUA Private Equity”) is pleased to announce the acquisition of Gourmet Foods, Inc. (“Gourmet Foods”), a family-owned manufacturer and distributor of specialty prepared foods including soups, sauces, hors d’ oeuvres, appetizers, side items, and breakfast dishes serving the airline, hospitality, restaurant, catering, retail and corporate campuses industries. The transaction was completed on behalf of AUA Private Equity portfolio company Gourmet Culinary Holdings (“GCH” or “Gourmet Culinary Holdings”).
The acquisition of Gourmet Foods is the third transaction completed by Gourmet Culinary Holdings as AUA Private Equity seeks to create the leading specialty prepared foods company in the U.S. On March 27, 2019, AUA Private Equity consummated a partnership under GCH, investing alongside the owners of Gourmet Kitchen, Inc. (“Gourmet Kitchen”). Thereafter, on April 25, 2019, AUA Private Equity completed its second investment for the GCH platform, partnering with the founders and senior management of Kabobs Holdings, LLC (“Kabobs”).
Andy Unanue, Managing Partner of AUA Private Equity, commented: “The acquisition of Gourmet Foods allows Gourmet Culinary Holdings to further expand its national footprint and its product portfolio. We are pleased to be partnering with an exceptional and talented management team who will continue to lead the business and provide further culinary expertise on behalf of GCH.”
Founded in 1986, Gourmet Foods manages three high-quality production facilities located in Los Angeles, San Francisco, and New Jersey, as well as nine warehouse distribution points across the U.S. providing national access. The company enjoys brand recognition amongst its blue-chip clients across multiple channels, and due to of its high-quality products, it maintains a diverse and growing list of long-term customer relationships.
Steven Flyer, Partner of AUA Private Equity, commented: “We are excited to acquire Gourmet Foods and continue to expand the GCH platform through new distribution channels and production capabilities. The Gourmet Foods’ team brings a culinary-forward approach to innovation, quality, and consistency in its product offering. With the Gourmet Foods acquisition, we continue to execute on our plan of creating the leading premium specialty prepared foods platform in the U.S.”
The transaction was led by Partner Steven Flyer, Managing Director Kyce Chihi, and Vice President Ari David. Susan Pravda from Foley & Lardner LLP served as legal advisor to AUA Private Equity. Maria Steingoltz and Manny Picciola of L.E.K. Consulting LLC provided strategic consulting advice to AUA Private Equity. Additional advisors to AUA Private Equity include Sharon Bromberg from CohnReznick LLP.
About AUA Private Equity Partners, LLC
AUA Private Equity Partners is a New York based, operationally-focused, lower middle-market investment firm providing strategic capital to companies in the consumer products and services sectors with a particular focus on family-owned businesses or companies benefiting from the growth of the U.S. Hispanic population. AUA Private Equity makes equity investments of $20 to $75 million in companies that generate in excess of $5 million in EBITDA. For more information on AUA Private Equity Partners, please visit www.auaequity.com
About Gourmet Foods, Inc.
Gourmet Foods, Inc. is a family-owned manufacturer and distributor of specialty prepared foods including soups, sauces, hors d’oeuvres, appetizers, side items, and breakfast dishes serving the airline, hospitality, restaurant, catering, retail and corporate campuses industries. For more information on Gourmet Foods, please visit www.gourmetfoodsinc.com