Kainos Capital said March 20 that it acquired Bonewerks Culinarte. Financial terms weren’t announced. Bonewerks, of Green Bay Wisconsin, provides sauce products for center-of-the-plate entrées.
DALLAS, March 20, 2018 – Kainos Capital, a firm specializing in acquiring and managing food and consumer businesses, has acquired Bonewerks Culinarte’.
Founded in Green Bay, Wisconsin in 1998, Bonewerks provides the highest-quality chef-inspired sauce products for center-of-the-plate entrées, including ranges of premium glace and demi-glace, as well as fully prepared, oven-seared sous vide entrées. Bonewerks glace and demi-glace products provide an intense neutral flavor foundation for chefs that can be used to prepare signature sauces or serve as is. The sous vide products include beef, pork, lamb, duckling, chicken and veal center-of-the-plate entrées that are oven-seared braised, fully cooked, delivered frozen, and easily reheated. The sous vide method of preparation maximizes the tenderness and flavor profile of the meat. By outsourcing sous vide preparation, chefs can eliminate labor, as well as the time consuming food safety paperwork required to cook sous vide in house. Bonewerks products enable chefs to prepare high-quality dishes for large groups and are used by discerning chefs in a variety of settings, including white table cloth restaurants, catered events, sporting venues and hotels.
Andrew Rosen, Managing Partner of Kainos Capital, said, “We are excited to partner with the Bonewerks team to capitalize on the sizable growth opportunity in the marketplace. The Company has a powerful value proposition for foodservice operators, including consistent quality and the ability to achieve cost savings through reduced kitchen labor, time, real estate and waste in the preparation of essential center-of-the-plate items. We look forward to working with Bonewerks to increase its product awareness, expand into new channels, and introduce new on-trend products, particularly by extending the Company’s sous-vide product line.”
“Bonewerks is uncompromising about product quality, period, from chef driven recipes to the use of the highest-quality ingredients, traditional open top kettles, hand skimming and unparalleled food safety procedures,” said Tom Sausen, Bonewerks’ CEO. “We are thrilled to partner with Kainos to capitalize on what we have built and to pursue numerous growth initiatives.”
The acquisition of Bonewerks is Kainos’ second in the premium label sauces and prepared meals segment following Kettle Cuisine. Kainos believes there is an opportunity for Bonewerks to collaborate with other Kainos portfolio companies and leverage customer networks to grow the Bonewerks business.
Bob Sperry, a Partner of Kainos Capital added, “Bonewerks is an outstanding company led by a management team with a strong commitment to providing quality products and solutions. We believe that Bonewerks and its team can lead a broader consolidation strategy in outsourced sauces, broths and entrees that meet the growing need of foodservice operators for cost effective solutions to these items.”
About Kainos Capital
Kainos Capital is a middle market private equity firm with an exclusive focus on the food and consumer sector. The Kainos team has extensive investment and operating experience in the industry, having invested more than $2 billion of equity in more than 60 transactions with a total transaction value of more than $8.5 billion. The firm’s strategy is to build a diversified portfolio of growing and strategically relevant food and consumer businesses that trade buyers would like to acquire. For more information, visit www.kainoscapital.com.