California-based fresh prepared foods specialist Ready Pac Foods has secured strategic investment from private equity group Bayside Capital.
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Financial details surrounding the deal, announced yesterday (10 April) were undisclosed.
Ready Pac chairman and CEO Dennis Gertmenian said: “Bayside’s investment allows us to accelerate our 38-year history of partnering with our customers to bring high-quality innovative new products to market while providing excellent service.”
For its part, Bayside said it viewed its investment in Ready Pac as a “flagship investment” in the fast growing fresh prepared foods industry segment. “We will leverage our financial resources to enhance the company’s operational excellence and industry leadership,” said Tiffany Kosch of Bayside Capital.
The private equity fund is an affiliate of HIG Capital, a Miami-based private equity investment firm specialising in acquisitions and recapitalisations of medium-sized businesses.
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