US food manufacturer C.H. Guenther & Son is to be sold to local private-equity firm PPC Partners.
For an undisclosed sum, PPC Partners has teamed up with other unnamed investors and members of C.H. Guenther & Son’s management to buy the business, which markets branded and private-label products internationally.
Texas-based C.H. Guenther & Son has been continuously owned by Guenther family members since its founding in 1851.
The company manufactures and markets products including breads, biscuits, gravy mixes and frozen appetisers. In the US, C.H. Guenther & Son’s brands include Pioneer baking mix into the retail channel and White Wings flour into foodservice.
The group employs more than 2,500 people in 19 manufacturing locations across the US, Canada and Europe. Outside North America, C.H. Guenther & Son’s facilities are in Belgium and the UK.
“CHG is a clear market leader with an outstanding management team,” PPC Partners chairman and CEO Tony Pritzker said. “Combining our flexible capital base and industry knowledge with this management team will enable the company to generate new opportunities for growth while continuing the family legacy.”
Michael Nelson, PPC Partners’ investment partner, added C.H. Guenther & Son “represents an excellent platform for us to accelerate our investment in the food manufacturing sector”.
In July, C.H. Guenther & Son added to its business through acquisition, buying Canadian frozen foods business Les Plats du Chef from Claridge, the investment holding of Canadian businessman Stephen Bronfman.