LaSalle Capital has created a new foods platform through the recapitalization of Westminster Cracker Company and the acquisition of Gold Pure Food Products Co — representing the firm’s eighth platform investment from its second fund. Rutland, Vermont-based Westminster, founded in 1828, makes oyster and snack crackers. Gold’s, based in Hempstead, NY and founded in 1932, makes horseradish products and specialty mustards and other condiments and sauces. Bob Abramowitz, chief executive officer of Westminster, will lead the platform.
LaSalle Capital is pleased to announce the recapitalization of Westminster Cracker Company (“Westminster”) and the acquisition of Gold Pure Food Products Co., Inc. (“Gold’s”).
The recapitalization of Westminster and the acquisition of Gold’s represent LaSalle Capital’s eighth platform investment out of its second fund.
Westminster, founded in 1828 and based in Rutland, Vermont, is a leading manufacturer of premium quality, all-natural, oyster and snack cracker products. Westminster’s products are served across the country in leading restaurants and other foodservice establishments and sold through retail channels under the Westminster and Olde Cape Cod brands.
Gold’s, founded in 1932 and based in Hempstead, New York, is a leading manufacturer of all-natural, premium quality fresh horseradish products and specialty mustards, cocktail sauces and other condiments and sauces. Gold’s products are sold through leading retailers across the country, primarily under the Gold’s and Nathan’s brand names.
The Gold’s and Westminster platform combines two category leading, premium quality, all natural food companies. The combined operation will be managed by Bob Abramowitz, CEO of Westminster. Abramowitz stated, “The acquisition of Gold’s and combination with Westminster unites two leading, specialty food companies that share a passion for excellence and a long tradition of being best-in-class brands in their respective niches. We are excited to build upon the fine tradition established by the Gold family over the last several generations.”
Steven Gold, co-owner of Gold’s, stated, “It was important for our family to align Gold’s with an experienced food industry investor like LaSalle Capital, and we now have a strong operating partner in Westminster that understands how to grow “all natural” specialty food businesses. We are impressed with the Westminster management team and its remarkable growth over the last several years. Our family is excited about the future growth prospect of the combined operation and believes significant expansion opportunities exist within these two iconic brands.”
If you have any questions regarding this transaction or would like to discuss other opportunities in the food industry, please contact Jeff Walters, Andy Shackelford, or Kelly Cornelis of LaSalle Capital at (312) 236-7041.
About LaSalle Capital
LaSalle Capital is a leading private equity firm with extensive experience in the lower middle market. We currently manage two funds totaling over $330 million in capital. Our team has deep experience in partnering with management teams to grow and develop middle market businesses. We add value to companies by providing strategic operating focus and promoting growth organically and through acquisitions. Visit www.lasallecapital.com for more information.