Endeavour Capital has made an undisclosed investment in OFD Foods, a freeze dryer based in Albany, Oregon. In addition to the funding, OFD Foods has promoted Jim Merryman to president and CEO.
ALBANY, Ore.–(BUSINESS WIRE)–OFD Foods, the largest diversified freeze dryer in North America, has promoted company president Jim Merryman to president and chief executive officer. The announcement follows the completion of a capital investment in OFD Foods from Portland, Oregon-based Endeavour Capital. Led by Merryman and the OFD executive team, the investment funded the retirement buyout of several long-serving OFD managers and will enable OFD to accelerate investments in additional capacity at its Albany plants and elsewhere in North America. Headquarters and company management will remain in Albany. Financial terms of the transaction were not disclosed.
“We are now able to move OFD forward more aggressively to serve the expanding needs of our customer base,” said Merryman. “Our broader capital base will support the continued expansion of our brands within the outdoor adventure meal and emergency meal markets, in addition to expanding capacity for OFD’s contract services.”
Merryman joined OFD Foods in 1974, and has managed the company’s distribution, production, maintenance, purchasing, sales and marketing departments. He applied this thorough understanding of OFD Foods’ business when he was appointed president and chief operating officer in 2011. Now as CEO, Merryman will lead OFD Foods to continued success.
“Our team recognizes OFD as the industry leader in freeze drying capabilities,” said Stephen Babson, Endeavour managing director. “We have known the company for more than 15 years, so we’re confident that investments in product development and production capacity are going to help OFD reach the next stage of its growth.”
About OFD: OFD Foods LLC is a leader in both global reach and the variety of uses to which we have adapted freeze drying technology. From hundreds of individual ingredients (including food, supplements, live cultures, and pharmaceuticals) to fully prepared entrees, and with a full range of packaging options in both food and non-food categories, we can apply the most elegant preservation technology known to address your company’s needs.
Headquartered in Albany, Oregon, our facilities have more than 32,000 sq. ft. of freeze drying surface. As a major employer in the area, we take pride in supporting our community and giving back through volunteer work and local sponsorships.
About Endeavour: Endeavour was founded in 1991 to be a resident source of capital and long-term partner to leading Western U.S.-based businesses. Endeavour recently closed its seventh equity fund, with $775 million in committed capital, and has offices in Seattle, Portland, Los Angeles and Denver. Current Endeavour portfolio companies in the Pacific Northwest include Alpha Media, Genesis Financial Solutions, Metropolitan Market, New Seasons Market, Pacific Market International, USNR, Vigor Industrial, Zoom+ and ESCO.