SAN FRANCISCO--(BUSINESS WIRE)--H.I.G. Capital (“H.I.G.”), a global alternative investment firm with $60 billion of capital under management, is pleased to announce that one of its affiliates has completed the acquisition of Patriot Pickle (“Patriot” or the “Company”), a leading manufacturer and distributor of fresh pickles and other fermented foods. H.I.G. is partnering with the current management team to help accelerate the Company’s successful growth trajectory. Terms of the transaction were not disclosed.
Founded in 2004 and headquartered in Wayne, New Jersey, Patriot provides high-quality pickles to thousands of restaurants, delis, supermarkets, and distributors across North America. The Company offers a wide range of cuts, flavors, and national brands, including Patriot Pickle, CRISP, Regal Crown, K&Z, and First Place Foods. With strategically located production facilities, Patriot is able to deliver fresh, “farm to package” pickles in five days or less to provide great tasting pickles to consumers, foodservice operators, and grocery retailers.
Bill McEntee, Founder and President of Patriot Pickle, and Adam Ricci, Chief Operating Officer, commented, “We are very excited about partnering with H.I.G. to support Patriot’s next phase of growth. The Company has multiple opportunities for expansion and H.I.G.’s experience and resources will help us continue our successful trajectory. We remain committed to providing the best tasting pickles and highest quality service to our longstanding, valued customers.”
“Patriot Pickle’s impressive platform has grown significantly over the years by delivering on its commitment to the highest quality pickles and best-in-class service,” added Justin Reyna, Managing Director at H.I.G. Capital. “We are pleased to partner with Bill, Adam, and the Patriot management team and look forward to supporting the Company in its organic and acquisition-driven growth initiatives.”
H.I.G. is an experienced investor in the food & beverage industry and will leverage its sector expertise from prior investments including Lipari Foods, Albertville Quality Foods, Tastes on the Fly, Ready Pac Foods, Quick Restaurants, Puerto de Indias, and others.
William Blair and BMO Capital Markets Corp. acted as financial advisors and McDermott Will & Emery served as legal counsel to H.I.G.
About Patriot Pickle
Patriot Pickle is a leading manufacturer and distributor of pickles and other fermented food products to the foodservice and grocery retail markets. The Company offers a wide range of cuts, flavors, and packaging formats including foodservice pails, retail quarts, and single-serve pouches.
Patriot Pickle was founded in 2004 to supply customers with fresh pickles year-round. With the motto “Always Fresh, Always Crisp,” Patriot provides high-quality pickles to thousands of restaurants, delis, supermarkets, and distributors across North America. For more information, please visit www.patriotpickle.com.
About H.I.G. Capital
H.I.G. Capital is a leading global alternative investment firm with $60 billion of capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta, and Stamford in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Luxembourg, Bogotá, Rio de Janeiro, São Paulo, and Dubai, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
*Based on total capital raised by H.I.G. Capital and affiliates.
