Palladium Equity Partners has sold Teasdale Foods to Snow Phipps Group. No financial terms were disclosed. Teasdale is a maker of bean and hominy products.
NEW YORK, October 29, 2014 — Palladium Equity Partners, LLC (along with its affiliates, “Palladium”), a private investment firm with over $2.5 billion in assets under management, today announced that it has completed the sale of Teasdale Foods, Inc. (“Teasdale”), a leading producer and marketer of bean and hominy products in the United States, to affiliates of Snow Phipps Group, LLC, a New York-based private-equity firm.
Teasdale represents the third sale of a portfolio company by Palladium this year. Earlier this year, Palladium sold its portfolio companies ABRA Auto Body & Glass (“ABRA”), a national provider of vehicle damage repair services, to affiliates of Hellman & Friedman, LLC and ABRA’s senior management team, and Sahale Snacks, Inc., a manufacturer and marketer of premium, branded nut and fruit snacks, to The J. M. Smucker Company (NYSE: SJM).
Following Palladium’s investment in Teasdale in September 2011, the company completed two add-on acquisitions, deepened relationships with existing customers, and began to service new customers in a variety of channels, including retail, foodservice, government, and industrial.
“We are very pleased with the outcome we have achieved for Teasdale,” said Luis Zaldivar, a Managing Director of Palladium. “Backed by an excellent management team, Teasdale over the course of our investment integrated three regional businesses, focused on the attractive store brand and organic categories, and became a national Hispanic food platform with significant growth momentum.”
Alberto Bandera, CEO of Teasdale, added, “We are extremely thankful for the support we received from our partners at Palladium over the last three years. They helped us execute on an ambitious growth plan by providing sound advice and access to the human and capital resources we needed.”
About Palladium Equity Partners, LLC.
Palladium is a middle market private equity firm with over $2.5 billion in assets under management. Palladium seeks to acquire and grow companies in partnership with founders and experienced management teams, and focuses primarily on buyout equity investments in the range of $50 million to $150 million. Since its founding in 1997, Palladium has invested over $1 billion of capital in more than 20 platform investments and over 50 add-on acquisitions. The principals of the firm have significant experience in financial services, business services, food, healthcare, industrial and media businesses, with a special focus on transitioning founder-owned businesses and investing in companies it believes will benefit from the growth in the U.S. Hispanic population. In April 2014, Palladium announced the final closing of Palladium Equity Partners IV, L.P. at $1.14 billion, significantly exceeding its target. Palladium is based in New York City. For more information, visit www.palladiumequity.com.