Roland Foods, LLC, a portfolio company of Vestar Capital Partners, has acquired ifiGOURMET, a Gurnee, Ill.-based importer and distributor of products for the baking, pastry, confectionery and ice cream industries. Financial terms of the transaction were not disclosed.
ifiGOURMET serves more than 1,500 in-store bakery, restaurant chain and foodservice customers across the United States from two distribution centers, located in Chicago and San Francisco.
As part of the transaction, ifiGOURMET will be combined with AUI Fine Foods, Roland Foods’ sweet division. Rick Brownstein, owner and chief executive officer of ifiGOURMET, will remain with the combined company.
“This strategic acquisition will strengthen AUI Fine Foods’ footprint in the key Chicago and San Francisco markets and expands our sweet product offering, which will allow us to better serve existing and new customers nationwide,” said Keith Dougherty, CEO of Roland Foods. “We believe tremendous opportunities exist in the gourmet food and ingredients market today, and the addition of the ifiGOURMET team will better position Roland Foods for growth.”
Mr. Brownstein added, “Joining AUI Fine Foods and the Roland Foods’ family will provide ifiGOURMET with the resources and relationships needed to take our organization to the next level. Roland Foods and AUI share our culture and strong commitment to customer service and deeply understand our business, and we’re excited about the future.”
Established in 1934, Roland Foods is an importer of specialty food products and markets more than 2,400 stock-keeping units to foodservice, retail and industrial customers in North America and globally. The company’s products are sold principally under the Roland brand.
A middle-market private equity firm based in New York, Vestar’s current portfolio includes Nonni’s Foods, LLC, Simple Mills, Dr. Praeger’s and BIGR Ventures, an investment fund focused on early-stage investments in natural and organic food companies.Numerous earlier food related investments included Birds Eye Foods, Inc.; Celestial Seasonings, Inc.; Fiorucci S.p.A.; Hearthside Food Solutions; and Michael Foods, Inc.