AUA Private Equity Partners LLC has acquired Newark, New Jersey-based Joey’s Fine Foods Inc, a maker of dessert snacks. No financial terms were disclosed.
NEW YORK, NY – October 23, 2018 – AUA Private Equity Partners, LLC (“AUA Private Equity”) is pleased to announce the acquisition of 100% of the assets of Joey’s Fine Foods, Inc. (“Joey’s Fine Foods”), a family-owned branded manufacturer of high-quality dessert snacking products serving club stores, traditional and alternative grocery retailers, and foodservice channels. The transaction was completed on behalf of AUA Private Equity portfolio company Indulge Desserts Holdings, LLC (“Indulge Desserts”).
Andy Unanue, Managing Partner of AUA Private Equity, said: “We are pleased to acquire Joey’s Fine Foods and expect meaningful synergistic opportunities as we continue to scale our leading premium desserts platform.”
Based in Newark, NJ, Joey’s Fine Foods is a traditional sweet snacks manufacturer known for its Black and White Cookies and Linzer Tarts in addition to carrying a variety of muffins, sliced cakes, brownies, pastries, and cookies, from family-size to individual packages. The company enjoys significant market share and meaningful brand recognition, with 80% of its sales derived from branded products.
The acquisition of Joey’s Fine Foods provides Indulge Desserts with access to a new product category that further diversifies the company’s business. In addition, AUA Private Equity is developing meaningful cross-selling opportunities given Indulge Desserts’ strong presence in key retailers, which will help expand Joey’s Fine Foods sales into new channels.
Steven Flyer, Partner of AUA Private Equity commented, “We are excited to acquire Joey’s Fine Foods and the high-quality products the company manufactures as this transaction will allow us to continue to expand Indulge Desserts’ diverse portfolio of products. We continue to seek other dessert manufacturing assets as we realize on our vision to grow Indulge Desserts into a leading premium dessert manufacturer.”
The AUA Private Equity deal team was led by Partner Steven Flyer, Senior Associate Jack Lin, Associate Te’Rhon O’Neal and Analyst Mateo Yibrin.
Disclosure: This document should not be construed as an offer to sell or a solicitation of an offer to buy any securities or investment advisory services, and are intended for informational purposes only. Any offer will be made solely pursuant to a Private Placement Memorandum and Subscription Agreement (“Offering Documents”) to qualified offerees. This document in whole or in part will not form the basis of and should not be relied upon in connection with any investment in any fund. To the extent that statements made in this document summarize provisions of the Offering Documents, they are qualified in their entirety by the terms of such Offering Documents. A copy of the Offering Documents must be reviewed and accepted prior to making a decision to invest in any fund. An investment in any fund may result in loss to an investor. Interests in AUA’s private funds are not offered or sold in any jurisdiction in which such offer, solicitation or sale would be unlawful, until the requirements of the laws of such jurisdiction have been satisfied.
About AUA Private Equity Partners:
AUA Private Equity Partners, LLC 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. AUA Private Equity currently manages approximately $275 million* of capital.
Please visit us at www.auaequity.com