Frostkrone, a portfolio company of EMERAM Capital Partners, has acquired Rite Stuff Foods Inc, a specialty potato product maker. No financial terms were disclosed. Frostkrone is a European manufacturer of frozen convenience food and snacks.
AUSTIN, Texas, Feb. 28, 2019 /PRNewswire/ — Independent Investment Bankers Corp. (“IIB”) is pleased to announce that Michael Bennett and Leif Johnson who are FINRA licensed investment bankers with IIB and partners of Liberty Ridge Advisors have assisted their client, Rite Stuff Foods, Inc. (Rite Stuff Foods) in the sale of their company to frostkrone Tiefkuhlkost GmbH (“frostkrone”).
frostkrone, a portfolio company of private equity firm EMERAM Capital Partners and one of Europe’s leading manufacturers of frozen convenience foods, is looking forward to this acquisition, as Rite Stuff Foods is a leader in the production of potato specialties, which will complement their frozen food offering.
Tom Madden, President of Rite Stuff Foods, said, “We are excited about this opportunity to become part of the frostkrone family. We believe that this acquisition strengthens both companies and will allow Rite Stuff Foods to continue to offer its quality products; while always positioning the combined entities for further growth into new and existing markets.”
Frédéric Dervieux, CEO of frostkrone, said: “We have been exporting our products to the U.S. since 2017 so that this is a natural development for us. By acquiring Rite Stuff Foods, we now have a local presence that has come about as a result of developments and discussions with our trading partners. Rite Stuff Foods is firmly established in the U.S. and has an excellent network.”
Michael Bennett, licensed IIB Banker and Liberty Ridge partner says, “IIB has been a great broker dealer by providing us the support we need to deliver the highest level of service to our clients and a favorable end result.”
About Independent Investment Bankers Corp.
IIB is an SEC registered broker dealer and FINRA/SIPC member that provides back office support services to boutique investment banking groups that are primarily engaged in assisting companies either sell their business to strategic or other institutional buyers or help companies raise expansion debt or equity capital from institutional financing sources. www.iibcorp.com
About Liberty Ridge Advisors
Liberty Ridge Advisors assists businesses on capital transactions, including mergers, acquisitions, and recapitalizations. Liberty Ridge Advisors offers concentrated experience and expertise in key Pacific Northwest industries including: food products, aerospace, building materials and construction, general manufacturing and distribution, wine, and business and financial services. www.libertyra.com Investment banking services and securities are offered through IIB. IIB and Liberty Ridge Advisors are unaffiliated entities.