Yukon Partners has provided financing to back Audax Private Equity‘s acquisition of York, Maine-based Stonewall Kitchen, a provider of specialty food products. No financial terms were disclosed.
MINNEAPOLIS–(BUSINESS WIRE)–Yukon Partners (“Yukon”), a provider of mezzanine capital for middle market private equity transactions, is pleased to announce that it has partnered with Audax Private Equity (“Audax”) to support the acquisition of Stonewall Kitchen (the “Company”), a leading provider of branded, specialty food products.
The Company, founded in 1991 and headquartered in York, Maine, consists of the flagship Stonewall Kitchen brand; the Tillen Farms brand of pickled vegetables and cocktail cherries; the Napa Valley Naturals brand of olive oils, culinary oils, balsamic vinegars and wine vinegars; the Montebello brand of artisan organic pasta imported from Italy; and the Legal Sea Foods brand of restaurant-quality seafood sauces and condiments. Stonewall Kitchen will continue to be led by existing management, with John Stiker remaining as the Chief Executive Officer, Lori King as the company’s President and Chief Operating Officer, and Natalie King as Executive Vice President.
“Stonewall Kitchen has an impressive portfolio of high-quality, award-winning food products,” said Michael Furey, Partner of Yukon. “We are excited to partner with Audax and management to support the next phase of the Company’s growth.”
Dorsey & Whitney LLP served as legal counsel to Yukon.
About Stonewall Kitchen
Stonewall Kitchen is a leading specialty food producer headquartered in York, Maine. Founded in 1991 by partners Jonathan King and Jim Stott, the two established the Stonewall Kitchen brand by selling jams and jellies at local farmers’ markets with a flavorful line of distinctive and high-quality products. Over time, they expanded the brand to include sauces, condiments, crackers and baking mixes, always focusing on innovative product development, beautiful packaging, and exceptional guest service. Today, Stonewall Kitchen is the premier specialty foods platform in North America, home to a family of premium quality brands including the flagship Stonewall Kitchen brand; the Tillen Farms brand of pickled vegetables and cocktail cherries; the Napa Valley Naturals brand of olive oils, culinary oils, balsamic vinegars and wine vinegars; the Montebello brand of artisan organic pasta imported from Italy; and the Legal Sea Foods brand of restaurant-quality seafood sauces and condiments. The company boasts more than 8,500 wholesale accounts nationwide and internationally; a thriving catalog and online division; a cooking school and café in both York, Maine and Costa Mesa, California; and nine retail Company Stores throughout New England. As winners of 30 prestigious awards from the Specialty Food Association and the recipient of the coveted Outstanding Product Line Honors three times, Stonewall Kitchen is proud to be one of the most awarded specialty food companies in the country. For more information, visit www.stonewallkitchen.com.
About Yukon Partners
Yukon Partners is an independent and unaffiliated junior capital provider, primarily serving middle market private equity sponsor led business transactions in the U.S. and Canada. The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, and public-to-private buyouts. Yukon typically invests $10 to $50 million per transaction and currently manages approximately $1.2 billion across three funds. Yukon Partners has offices in Minneapolis, Minnesota and Boston, Massachusetts. For more information, please visit www.yukonpartners.com.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $25 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 125 platforms and 775 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 240 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.