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Tim Healy
Vice President
p. 440.684.1400
thealy@linsalatacapital.com
Linsalata Capital Partners acquires Eatem Foods Company
February 2, 2010
Mayfield Heights, Ohio (February 2, 2010) – Linsalata Capital Partners (LinCap), a Cleveland-based private equity firm, announced that it has partnered with the existing owners and management to recapitalize Eatem Foods Company (Eatem). Following Hospitality Mints and Spartan Foods, the transaction with Eatem represents the third food industry acquisition completed by LinCap in the last 18 months.
Headquartered in Vineland, N.J., Eatem has been developing high-quality savory flavor systems for the industrial food trade for more than 25 years. Eatem’s innovative flavor systems can be found in a variety of products, including soups, sauces and gravies produced by food manufacturers serving the retail and foodservice markets.
The current owners and existing management team, led by Bob Buono, CEO, invested alongside LinCap. The investment continues to fulfill LinCap’s food industry initiative that began nearly four years ago and which now numbers three platform acquisitions.
“We are pleased to be partnering with LinCap as we build on our history and enter a new phase of growth,” said Buono. “Their experience will be helpful as we manage our expansion going forward,” he continued.
Gregg Taber, managing director at LinCap, said, “We are excited to be working with the Eatem team as they build on their strong foundation. Eatem has proven to be a leader in its market, bringing innovation, uncompromising commitment to quality and customer service to a blue-chip customer base.”
Located in the Cleveland suburb of Mayfield Heights, Ohio, Linsalata Capital Partners was founded in 1984 and has combined its strong financial capabilities with extensive operational experience to accelerate the growth of middle-market companies. In its more than 25 years of investing, the firm has completed 93 buy-side transactions totaling more than $3 billion. Linsalata Capital Partners is currently investing from its sixth fund, Linsalata Capital Partners Fund V, L.P. (LinCap V), with $425 million in committed equity capital.
Headquartered in Vineland, N.J., Eatem has been developing high-quality savory flavor systems for the industrial food trade for more than 25 years. Eatem’s innovative flavor systems can be found in a variety of products, including soups, sauces and gravies produced by food manufacturers serving the retail and foodservice markets.
The current owners and existing management team, led by Bob Buono, CEO, invested alongside LinCap. The investment continues to fulfill LinCap’s food industry initiative that began nearly four years ago and which now numbers three platform acquisitions.
“We are pleased to be partnering with LinCap as we build on our history and enter a new phase of growth,” said Buono. “Their experience will be helpful as we manage our expansion going forward,” he continued.
Gregg Taber, managing director at LinCap, said, “We are excited to be working with the Eatem team as they build on their strong foundation. Eatem has proven to be a leader in its market, bringing innovation, uncompromising commitment to quality and customer service to a blue-chip customer base.”
Located in the Cleveland suburb of Mayfield Heights, Ohio, Linsalata Capital Partners was founded in 1984 and has combined its strong financial capabilities with extensive operational experience to accelerate the growth of middle-market companies. In its more than 25 years of investing, the firm has completed 93 buy-side transactions totaling more than $3 billion. Linsalata Capital Partners is currently investing from its sixth fund, Linsalata Capital Partners Fund V, L.P. (LinCap V), with $425 million in committed equity capital.