CHICAGO — Hometown Food Co., a wholly-owned portfolio company of Greenwich, Conn.-based Brynwood Partners VII L.P. and Brynwood Partners VIII L.P., on Sept. 4 closed its acquisition of the U.S. baking business of The J.M. Smucker Co. As part of the $375 million transaction, Hometown Foods has acquired a 650,000-square-foot manufacturing facility in Toledo, Ohio, as well as brands such as Pillsbury, Martha White, Hungry Jack, White Lily and Jim Dandy.
Hometown Foods will be headquartered in Chicago, where the company said it plans to employ approximately 50 people.
Heading the new company will be Daniel Butler, who was named president and chief executive officer. Mr. Butler most recently was president and c.e.o. of Wilton Brands, L.L.C. Prior to that, Mr. Butler worked at Kraft Foods Inc. for 17 years, where he held senior level sales, marketing and general management positions.
In addition to Mr. Butler, the company has hired Tim Young as chief financial officer, David Meltzer as executive vice-president of sales and Dan Anglemyer as chief marketing officer.
Most recently, Mr. Young was senior vice-president and operating company c.f.o. at TreeHouse Foods, Inc. He earlier was vice-president and controller at the company. Prior to TreeHouse, he was vice-president of compensation and finance at ServiceMaster.
Mr. Meltzer most recently was senior vice-president of sales at Richelieu Foods, Inc. Prior to Richelieu, he was a business manager for the frozen/grocery division at Daymon.
Mr. Anglemyer joins Hometown from Back to Nature Foods Co., L.L.C., where he was chief marketing officer. Before Back to Nature, he spent many years with Mondelez International and Kraft Foods Group in various brand management positions.
“We are pleased to announce the closing of the Hometown Foods transaction and the hiring of an exceptional and experienced executive management team,” said Henk Hartong III, chairman and c.e.o. of Brynwood Partners. “We are excited to have a very talented management team in place at the closing and will be off to a fast start with the new company. We are looking forward to working closely with Dan and his team to bring focus and energy to this business and to execute on our strategy to grow these great brands in the years to come. Additionally, as we have done so successfully in past portfolio company investments, we will aggressively seek to identify and make add-on acquisitions where they fit our strategy.”
The acquired businesses generated net sales of approximately $370 million during Smucker’s fiscal year ended April 30, 2018, and were primarily reported in its U.S. Retail Consumer Foods segment. The transaction does not include the company’s baking business in Canada.