Brynwood Partners VII acquires Joseph’s Pasta Co

Brynwood Partners VII LP announced that its newly formed portfolio firm, JPC Acquisition Company, has acquired Joseph’s Pasta Co from Nestle Prepared Foods Co. Nestle acquired Joseph’s in 2006. Terms and conditions of the transaction were not disclosed.
The Joseph’s business, headquartered in Haverhill MA, manufactures and markets frozen stuffed pasta for the foodservice segment. Joseph’s incorporates time-honored recipes and methodologies to make a range of pasta and sauces products. Its artisan products include stuffed cannelloni, stuffed ravioli, stuffed tortellini, gnocchi, and manicotti. The business employs more than 300 people.
Brynwood has an established track record in the frozen food space. One of its most successful investments was in Richelieu Foods Inc, a private-label manufacturer of frozen pizza and salad dressings. Richelieu Foods was a portfolio company of Brynwood Partners V LP and was divested in 2010.
This acquisition is the first for Brynwood VII, the operation’s largest and most recently raised fund with $400 million of committed capital. Including Joseph’s, Brynwood has now completed five acquisitions from Nestle. Earlier in 2013, Brynwood Partners VI LP’s portfolio company, Pearson Candy Co, acquired the Bit-O-Honey brand from Nestle.
Founded in 1984, Brynwood is an operationally focused private equity fund that makes control investments in North American-based, lower-middle-market companies in the consumer sector.
For more details, access www.brynwoodpartners.com.