Joshua Green Corp., a Seattle-based private equity firm, has acquired Cuizina Food Company, Washington-based manufacturer of soups, sauces and other products. Terms of the deal were not released. Greene Holcomb & Fisher served as the exclusive financial advisor to Cuizina.
PRESS RELEASE
Greene Holcomb & Fisher (“GH&F”) is pleased to announce that Cuizina Food Company (“Cuizina”), a Washington-based manufacturer of premium soups, sauces and other products, was acquired by affiliates of Joshua Green Corporation (“Joshua Green”), a Seattle-based private equity and investment firm. GH&F served as the exclusive financial advisor to Cuizina in the transaction. Terms of the deal were not disclosed. The transaction marks the eleventh completed assignment by GH&F’s consumer and food team over the past two years and highlights the continued growth and client success of GH&F’s Pacific Northwest investment banking efforts.
Ric Ferrera, Cuizina’s founder, invested alongside Joshua Green in the transaction and will continue to serve as Cuizina’s Chairman following the sale. Ric stated, “Joshua Green is an excellent fit for Cuizina given its strong ties to the Seattle community and its commitment to the company, its customers and employees. The professionals at Greene Holcomb & Fisher earned my respect, confidence and complete gratitude for the work they did on my behalf to introduce us to Joshua Green and negotiate a very fair transaction. This is a significant milestone in the history of Cuizina and we look forward to working with our new partners at Joshua Green.”
GH&F Managing Director Tom Newell stated, “Cuizina is one of the leaders in the growing premium frozen and chilled soups and sauces categories both in the Pacific Northwest and nationally with several marquee customer accounts. Under current management and with the addition of new resources from Joshua Green, Cuizina is ideally positioned to continue its rapid growth.”
Lane Powell PC served as counsel to Ric and Cuizina in the transaction. Davis Wright Tremaine LLP served as counsel to Joshua Green.
About Cuizina Food Company (www.cuizina.com)
Headquartered in Woodinville, Washington, Cuizina is a leading manufacturer and marketer of premium, gourmet style soups and sauces. The company also produces a variety of other products including dressings, condiments and pastas. The vast majority of the company’s products are made with premium, natural ingredients and spices and then “flash frozen” or chilled to lock in the freshest taste and nutritional elements as well as maximizing shelf life. Its line of soups and sauces includes 13 and four “stock” varieties, respectively, which are marketed under its Family Favorites brand. Soup products include chicken and noodle soup bases, chilies, cream-based sauces, tomato-based sauces, dips and gravies. The company’s products are sold into retail, food service and industrial ingredient customers throughout the United States.
About Joshua Green Corporation
Joshua Green Corporation, headquartered in Seattle, Washington, owns and manages a diversified portfolio of company and real estate investments, with particular focus in the Greater Seattle area. The legacy of the Green family spans over 100 years as a community and business leader in shipping, banking and real estate with a newer emphasis on direct ownership of a span of operating companies.
About Greene Holcomb & Fisher LLC
Greene Holcomb & Fisher, with offices in Minneapolis, Phoenix and Seattle, is an investment banking firm that specializes in mergers and acquisitions, private placements and financial advisory services for the middle market. At GH&F, we blend our experience from nationally prominent investment banks, New York Stock Exchange-listed companies and leading law firms with senior-level attention and entrepreneurial ingenuity to deliver creative services to high quality companies.
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