Stonewall Kitchen has received financing from Centre Partners. No financial terms were disclosed. Also, Stonewall Kitchen has named John Stiker as CEO and promoted Lori King as president. Sawaya Segalas & Co. was exclusive financial advisor to Stonewall Kitchen on the transaction. Based in York, Maine, Stonewall Kitchen is a specialty food producer and retailer.
YORK, Maine, Oct. 27, 2014 /PRNewswire/ — Stonewall Kitchen, a highly acclaimed specialty food producer and retailer, today announced that Centre Partners, a leading private equity firm with a successful track record in the food and consumer products industries, has invested in the company and will partner with its management team. Founded in 1991 by Jonathan King and Jim Stott, Stonewall Kitchen has grown to become a well-known brand in specialty jams, sauces, crackers, pancake mixes and numerous other categories.
Stonewall Kitchen will continue to be managed by its existing leadership team with the addition of Centre Operating Partner John Stiker, who has been named Chief Executive Officer. Jonathan King will remain as Chief Creative Officer, Natalie King will remain in her position as Executive Vice President and Lori King has been promoted to President. Mr. Stiker previously held key leadership positions in other food companies, including Bumble Bee Seafoods and Distant Lands Coffee.
Mr. King stated, “For almost 25 years, my partner Jim Stott and I have worked hard to build an authentic brand, focused on creating the highest quality and most innovative specialty foods. As we pursue our next level of growth, we are pleased to partner with Centre Partners, which has a track record of being a great partner to management teams looking to grow their businesses in the food and beverage industry, among others. We believe that the combination of Centre Partners’ resources and experience together with the expertise of our leadership team will position Stonewall Kitchen to achieve continued success.”
David Jaffe, Managing Partner of Centre Partners, added, “We are excited to invest in Stonewall Kitchen and partner with Jonathan King and the rest of the executive team. The culture and business practices that Jon and Jim have developed are a great match with Centre’s own philosophy and values.”
Mr. Stiker added, “I am excited to join the Stonewall Kitchen team, as this is a brand that I have personally loved for many years. I look forward to working with its strong team of dedicated employees to grow Stonewall Kitchen’s business, which has a very exciting future.”
Sawaya Segalas & Co., LLC served as exclusive financial advisor to Stonewall Kitchen in connection with establishing its partnership with Centre Partners.
About Stonewall Kitchen
Headquartered in York, Maine, Stonewall Kitchen is a nationally recognized manufacturing, retail and wholesale distribution company which has been owned and operated by founders Jonathan King and Jim Stott since 1991. As one of the most awarded companies in the industry, Stonewall Kitchen is known for its innovative product development, beautiful packaging, extraordinary retail spaces and exceptional customer service. For more information, please visit www.stonewallkitchen.com.
About Centre Partners
Centre Partners, founded in 1986, is a leading private equity firm with a middle market focus that seeks to make acquisitions and equity investments alongside management teams who have or desire to make a meaningful economic stake in the future success of their businesses. Centre Partners has invested over $2 billion in more than 70 transactions, partnering with management teams across a broad spectrum of industries. Centre Partners provides those teams with access to its unique resources, which include an extended network of experienced and proven operating executives. The firm is currently investing through its sixth fund. Additional information is available at www.centrepartners.com.