US-based cheese manufacturer Heartisan Foods is set to acquire local peer North Country Packaging in Barron County, Wisconsin.
Heartisan Foods, backed by Ronin Private Equity, will utilize a $10m credit line from the buyout house to finance the purchase.
Ronin formed Heartisan Foods in 2021 through the acquisition and merger of three specialists in flavored and smoked cheese – Red Apple Cheese, Barron County Cheese, and the direct-to-consumer e-commerce business Cheese Brothers.
Distributed across the US through over 12,000 retail outlets and online sales, Heartisan’s flavored and smoked cheese is available under the brand names Red Apple Cheese, Cheese Brothers, and Naturally Good Kosher.
North Country offers a product portfolio that includes tomato and sweet basil curds and habanero ghost pepper spreads.
The acquisition will triple Heartisan Foods’ manufacturing capacity, support the growth of Cheese Brothers, and facilitate the launch of products in the cheese spreads and cheese curds categories, allowing the company to expand further in the cheese-snack segment.
According to Heartisan Foods, the expanded capacity comes at the right time as the manufacturer is currently running production at full capacity.
“The expanded capacity will enhance our margins and give us better control of the supply chain, fulfillment, and quality,” said Tiffany Bell, a Ronin partner and Heartisan Foods board member, emphasizing the commitment to supporting retail and consumer partner needs and driving growth.
With an annual revenue of over $50m and 30% sales and profit growth since its establishment, Heartisan Foods, headquartered in Barron, Wisconsin, is poised for continued success and expansion.
North Country’s co-founder Kendall Goossen will join Heartisan Foods in a senior executive role, while he and his wife Maria will retain a significant stake in the combined entity.
