Benford Capital recaps Saco

Benford Capital Partners LLC has recapitalized Middleton, Wisconsin-based Saco Foods LLC, a maker of food products that sells mostly to U.S.-based supermarkets and mass retailers. No financial terms were disclosed.

PRESS RELEASE

Middleton, WI — December 20, 2016. Benford Capital Partners, LLC (“Benford Capital”) today announced the recapitalization of Saco Foods, LLC (“Saco” or the “Company”) in partnership with Chief Executive Officer Tom Walzer, and Founder, Ray Sanna, who will continue to lead Saco in the years ahead. Founded in 1973 and based in Middleton, WI, Saco is a branded, niche-market leading food products company selling primarily to supermarkets and mass retailers in the U.S.

Saco’s primary products include Dolci Frutta, a chocolate hard-shell dessert dip for fruit, nuts, and other snacks, as well as powdered instant milk, powdered dry buttermilk, and baking cocoa sold under the Saco Pantry family of brands. Saco is recognized for its commitment to quality and unique, innovative products, which has helped the Company establish and maintain long-term relationships with its top customers over time. Saco operates out of a SQF Level 3 certified facility with capacity for growth.

“Ray Sanna and I are thrilled to partner with Benford Capital to build upon Saco’s legacy in our next stage of growth and success,” said Saco Foods CEO, Tom Walzer. “I look forward to working with Benford Capital in the years ahead as we collaboratively develop and execute on our long-term growth plan.”
“We’ve really enjoyed getting to know Tom, Ray and the entire Saco team,” said Ed Benford, Managing Director of Benford Capital Partners. “Saco is a terrific business with a long-standing reputation for developing unique, high quality food products and we are excited about the company’s long-term growth potential under Tom’s leadership.”

Saco (www.sacofoods.com) represents Benford Capital’s fifteenth control investment.

Benford Capital currently has nine platform companies, and is actively seeking add-ons in the following areas: food and food ingredients, test and measurement instruments and services, gas detection, B-2-B direct marketers of products and supplies.

Founded in 2004, Benford Capital is a Chicago-based private investment firm focused on control investments in lower middle market companies with $1-$5 million of EBITDA. Benford Capital seeks to build businesses over longer time periods (5-10+ years) in partnership with management. www.benfordcapital.com.