Golden State Foods, a US-based contract manufacturer, has secured an investment from local private-equity firm Lindsay Goldberg. The New York-based firm has acquired a “controlling interest” in the diversified retail and foodservice supplier, with the family-owned Lindsay Goldberg retaining ownership as well. Brian Dick, who was appointed president and CEO of Golden State Foods last summer, will continue to lead the company alongside the existing management team.
“Lindsay Goldberg shares our core values and is committed to helping us achieve our long-term objectives,” stated Dick. “From GSF’s beginning, our focus has been on delivering the best products and services to our customers.”
Established in 1947, Golden State Foods produces a wide range of products including shelf-stable foods, dairy, meat, and beverages. The company’s offerings range from salad dressings and condiments to beef burgers and ice cream. With a workforce of over 6,000 employees across 50 locations, Golden State Foods supplies to approximately 125,000 restaurants and retail stores worldwide.
Conrad Wetterau, the chairman of GSF, expressed enthusiasm about the partnership with Lindsay Goldberg, highlighting the importance of strategic collaboration. He emphasized the ongoing commitment of the Wetterau families to GSF’s future, with Stephen Wetterau and himself continuing to serve as active board members.
Lindsay Goldberg, with $17bn in committed capital investments, brings extensive experience in the food industry. The firm’s investment portfolio includes companies like Aspire Bakeries and Keystone Foods Holdings. Partners Eric Fry and Peter Nurnberg affirmed their confidence in the partnership with Golden State Foods, emphasizing their respect for GSF’s associates and their anticipation of a successful collaboration.
In conclusion, the investment from Lindsay Goldberg marks a significant milestone for Golden State Foods, positioning the company for continued growth and success in the food and beverage industry. With a focus on innovation and customer service, GSF remains dedicated to providing high-quality products and fostering long-term relationships with its valued customers.
