Summit Hill Foods, a cooking sauces and meal ingredients supplier, has been acquired by US-based private-equity firm EagleTree Capital.
Previously trading as Southeastern Mills until changing identity in 2020, Summit Hill Foods’ retail brands include The Original Louisiana Hot Sauce, Better Than Bouillon cooking sauces and Better Than Bouillon Gravy.
Southeastern Mills cooking mixes and Shore Lunch breading and batter mixes are also part of the portfolio. The Rome, Georgia-based company also serves as a B2B ingredients and foodservice supplier.
Summit Hill Foods management, including CEO Steve Goodyear, will remain in place post transaction. Financial terms were not disclosed.
“EagleTree’s partnership will empower us to accelerate our growth and innovation, expand our market reach and continue providing high quality products to our customers,” Goodyear said in a statement.
“We see incredible opportunity for our brands Better Than Bouillon and The Original Louisiana Hot Sauce, in addition to our custom bases and sauces business.”
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EagleTree Capital, meanwhile, located in New York, has more than $5.6bn of assets under management. The investor is focused on the North American market in areas such as the consumer and media sectors.
George Majoros, Jr., a joint managing partner at the private-equity firm, said: “We are thrilled to welcome Summit Hill Foods to EagleTree’s portfolio. Summit Hill Foods is an exceptional company with a strong track record of innovation and excellence, and we believe Better Than Bouillon and The Original Louisiana Hot Sauce are two very special brands.”
Southeastern Mills, and now Summit Hill Foods, dates back to 1941 when the business started as a family-owned bakery. In 2015, the company acquired The Original Louisiana Hot Sauce brand from Bruce Foods Corp. for an undisclosed sum.
Bruce Foods in Louisiana supplies pancake and pudding mixes under its namesake line and the Cajun King brand of Mexican food mixes and peppers.