Linsalata Capital Partners has sold Spartan Foods of America Inc to B&G Foods Inc. No financial terms were disclosed. Based in Spartanburg, South Carolina, Spartan Foods is a maker of branded pizza crusts.
Mayfield Heights, Ohio (July 13, 2015) – Linsalata Capital Partners (“LinCap”), a leading middle market private equity firm based in Cleveland, Ohio, announced the completion of the sale of Spartan Foods of America, Inc. (“Spartan Foods”) to B&G Foods, Inc. (NYSE: BGS) on July 10, 2015.
Spartan Foods, headquartered in Spartanburg, South Carolina, is a leading manufacturer of branded pizza crusts sold primarily through grocery and retail channels. The company’s flagship brand, “Mama Mary’s”, is sold in over 25,000 outlets nationwide and under LinCap’s ownership grew to become the #1 brand of shelf-stable pizza crust, by unit volume, in the retail channel.
Spartan Foods marks LinCap’s first exit in the food sector which has been a targeted investment initiative. LinCap also has food-related portfolio companies with Hospitality Mints and Eatem Foods.
“We are pleased with the outcome of our investment in Spartan Foods and have enjoyed working with its outstanding management team,” said Dan DeSantis, Managing Director at Linsalata Capital Partners. “Mama Mary’s will be a great addition to the B&G Foods family of brands.”
About Linsalata Capital Partners
Linsalata Capital Partners, located in the Cleveland, Ohio suburb of Mayfield Heights, was founded in 1984 and has combined its strong financial capabilities with extensive operational experience to accelerate the growth of middle market companies. In more than 31 years of investing, the firm has completed more than 100 buy-side transactions totaling $3.5 billion. Linsalata Capital Partners is currently investing from Linsalata Capital Partners Fund VI, L.P., with $427 million in committed equity capital. For more information, please visit www.linsalatacapital.com.