HC Private Investments has acquired a majority stake in Federal Heights, Colorado-based Epicurean Butter Company Inc, a manufacturer of finishing butters for the retail and foodservice industries. No financial terms were disclosed. Integris Partners was financial adviser to Epicurean Butter while Winston & Strawn LLP served as legal counsel to HCPI.
CHICAGO – September 4, 2019 – HC Private Investments (“HCPI”), a Chicago-based private investment firm, today announced a strategic partnership with Janey and John Hubschman, the co-founders of Epicurean Butter Company, Inc. (“Epicurean Butter” or “the Company”), a market-leading manufacturer of finishing butters for the retail and foodservice industries. As part of the partnership, the Hubschman’s are remaining in senior leadership roles and maintaining a significant minority ownership stake in the Company. Additionally, HCPI is providing capital that will support the Company’s strong sales growth and ability to execute on strategic investments in manufacturing capabilities and personnel to better serve the Company’s existing customer base. Terms of the transaction were not disclosed.
Founded in 2004 and located in Federal Heights, CO, Epicurean Butter enables consumers, personal chefs and foodservice professionals to bring restaurant quality flavors into their own kitchens without additional prep-time or cooking knowhow. The Company offers 15 core flavors of sweet and savory finishing butters that can be paired with steaks, seafood, vegetables, pasta and breads. Epicurean Butter’s products are made with all-natural and premium ingredients and are sold as branded and private label products through grocery retail and foodservice channels.
HCPI Managing Partners John P. Kelly and Matthew J. Moran, said, “We are thrilled to be partnering with Janey and John to support Epicurean Butter’s tremendous growth and to broaden its appeal among both new and existing customers. As a category, finishing butter remains in its infancy and we are seeking to capitalize on broader market adoption and expand the Company’s market share as consumer demand for premium, high quality, clean label products continues to increase.”
As part of the transaction, two experienced HCPI operating partners will join the Company’s management team and the board of directors. Tony Engel, who held executive roles at Wild Oats, Whole Foods and Agrium will join as CFO. Tom Maddi, who held executive roles at Barilla Pasta and Dawn Foods, will join the Company’s board of directors.
Janey Hubschman added, “We are excited to welcome HCPI as both a capital and strategic partner to support our customer base and growth initiatives. We look forward to leveraging the operating expertise of HCPI as we seek to build upon our significant success to date for the opportunities ahead, while maintaining our core values of quality and service.”
Winston & Strawn LLP served as legal counsel to HCPI. Integris Partners served as financial advisor to Epicurean Butter. Signature Bank provided debt financing for the transaction.
ABOUT HC PRIVATE INVESTMENTS
HC Private Investments (“HCPI”) is a private equity investment firm focused on making investments between $5 million to $30 million in lower middle-market manufacturing businesses within the consumer and industrial markets. HCPI invests capital from HC Technologies, LLC, a Chicago-based principal trading firm led by Joe Niciforo with offices in New York and London. The firm will also bring select family offices and individuals to participate in its transactions providing HCPI with a flexible and patient capital base. With a focus of being the first institutional investor in a business, HCPI seeks to partner with business owners, executives and management teams to identify opportunities to remove impediments to growth enabling companies to maximize their full value potential. For more information, please visit www.hcprivateinvest.com.
ABOUT EPICUREAN BUTTER
Epicurean Butter offers chef-designed flavored butter products that are a convenient solution for improving the quality and taste of everything from steaks to vegetables to garlic bread. The Company sells both branded products and private label goods across an array of channels, including in-store bakeries, meal kits, traditional grocery, and restaurants. For more information, please visit http://www.epicureanbutter.com.