HomeFoodLouisiana Fish Fry lands new owner | 2021-08-03

Louisiana Fish Fry lands new owner | 2021-08-03

NEW YORK — MidOcean Partners, a New York-based various asset supervisor specializing in middle-market personal fairness and various credit score investments, has acquired Louisiana Fish Fry Products, Inc. from an affiliate of Peak Rock Capital. Financial phrases of the transaction weren’t disclosed.

Founded in 1982, Louisiana Fish Fry makes a spread of merchandise, together with spices and seasonings, seafood boils, breadings and batters, sauces and marinades, and rice mixes. The firm’s merchandise are bought in grocery and mass market retailers in addition to foodservice retailers nationwide.

An affiliate of Peak Rock acquired Louisiana Fish Fry in 2018 from the household of the founding shareholders. During Peak Rock’s possession, Louisiana Fish Fry undertook a transition from household to institutional possession, together with a collection of transformational progress and operational initiatives which have contributed to the corporate’s success. Additionally, Louisiana Fish Fry has invested within the growth and scale of its group, opening new distribution amenities and organically rising its worker base by greater than 75%, enabling the enterprise to assist rising demand.

“We are excited to partner with MidOcean to continue driving outsized growth for Louisiana Fish Fry,” mentioned Michael Morse, president and chief govt officer of Louisiana Fish Fry. “MidOcean has an impressive track record in executing transformational growth. Their partnership, expertise and industry knowledge will enable us to dedicate our focus to key areas of our strategy, such as investment in our people and organic sales growth, which will come from expanded distribution and product development. We look forward to better serving our customers and end consumers while expanding into new markets.”

Daniel Penn, managing director at MidOcean, mentioned the personal fairness agency has been evaluating alternatives within the branded meals class for numerous years.

“(We are) thrilled to partner with Louisiana Fish Fry’s exceptional management team for the company’s next phase of growth,” Mr. Penn mentioned. “Our focus in this sector has been in partnership with DJ Jenson, a MidOcean operating partner with over 30 years of expertise in the industry and who will serve as chairman of the Louisiana Fish Fry board. Joining DJ on the board will be two of our other world-class operating partners, Tony DeLio and Lisa Mann, both of whom have highly relevant branded food experience, as well as Dave Moran, a longtime industry executive and investor.”

MidOcean’s present portfolio consists of Florida Food Products, a producer of wholesome, pure, clear label substances. Past investments embody Jenny Craig, Sbarro and South Beach Diet.

Commenting on its possession of Louisiana Fish Fry over the previous three years, Robert Strauss, managing director of Peak Rock, mentioned, “It has been a great pleasure working with the LFF management team over the last three years. In partnership with Peak Rock, LFF has made significant investments across the organization, accelerated the company’s new product innovation efforts, achieved significant distribution gains, and continued to expand Louisiana Fish Fry’s brand awareness, all of which have driven strong sales growth and positioned the company for long-term success.”

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments