SOUTHLAKE, Texas and PITTSBURGH, Pennsylvania – May 24, 2017 – Insight Equity Holdings LLC (“Insight Equity”), a leading middle-market private equity firm, is pleased to announce the acquisition of the Soup and Infant Feeding (“SIF”) business from TreeHouse Foods, Inc. This is the fourth platform acquisition for Insight Equity III LP and upon completion, the SIF business was renamed Riverbend Foods LLC.
Riverbend Foods is a leading manufacturer of soups, broths, gravies, and infant feeding products sold in cans, jars and TetraRecart® cartons. Based in Pittsburgh, the company owns and operates a USDA and BRC certified 625,000 square foot facility with broad manufacturing capabilities and a track record of delivering high-quality products that meet the demands of a discerning customer base.
“The acquisition of Riverbend Foods presents a unique opportunity to acquire a food manufacturing platform with numerous attractive growth opportunities,” said Jack Waterstreet, Partner at Insight Equity. “We believe the business has opportunities in its existing categories as well as attractive adjacent categories and we are delighted to welcome Riverbend Foods to our portfolio.”
“We are excited to partner with Insight Equity. We believe this transaction positions Riverbend Foods to succeed and grow while maintaining a commitment to delivering excellent customer service and superior quality,” remarked Tom Lavan, CEO of Riverbend Foods.
Neal Jain, a Vice President at Insight Equity, stated, “We are very excited about the food manufacturing space and look forward to considering further investments and acquisitions in the space in the future.”
Riverbend Foods is a leading manufacturer of soups, broths, gravies, and infant feeding products sold in cans, jars and TetraRecart® cartons. Based in Pittsburgh, the company owns and operates a USDA and BRC certified 625,000 square foot facility with broad manufacturing capabilities and a track record of delivering high-quality products that meet the demands of a discerning customer base.
Insight Equity makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, aggressive growth opportunities, restructurings, and transitions from private family ownership. The firm leverages a proven, collaborative value creation model to facilitate operating enhancements and growth. Insight Equity’s headquarters is located near the Dallas / Fort Worth International Airport in Southlake, Texas. The firm also has an office in New York City.