UK-based investment firm Harwood Private Equity has acquired US manufacturer Crest Foods. The financial terms of the deal were not disclosed. Specializing in dry food and dairy stabilizers, contract packaging, and private-label products, Crest Foods stands as a key player in the industry since its establishment in 1946.
The acquisition of Crest Foods by Harwood is poised to lead the company into its next phase of growth. Brown Gibbons Lang & Co. (BGL), the advisory group that facilitated the deal, stated that Harwood’s involvement will enable Crest Foods to uphold its dedication to providing value-added services to its blue-chip customer base and leading consumer brands.”
Harwood bags a 575,000 square-foot contract packaging, distribution, and warehousing facility in Ashton as part of the deal. Harwood Private Equity invests in lower middle market companies and is experienced in industries that include food and beverage, life sciences, precision manufacturing, media, and healthcare services. This investment firm’s investment range extends to companies with an enterprise value of between £15m ($18.9m) and £75m.
Harwood climbs the ladder in the food and beverage industry trends as it spreads its investment wings. With Harwood’s support, Crest Foods is set to accelerate its growth in a competitive landscape. Featuring a robust portfolio comprising desserts, dips, and snack seasonings, Crest Foods is expected to leverage the investment to further its mission. The deal was not solely about the acquisition; rather, it was seen as a strategic move to help Crest Foods expand and thrive.
As part of the broader food and drink business landscape, the deal seeks to cement a position that meets the evolving food and drink consumer trends. The strategic merger brings with it an enhanced capacity to cater to the greater and diverse demands from the market.
