NEW YORK — Vestar Capital Partners VI, L.P. has agreed to acquire a majority interest in American Roland Food Corp., including the Bruno Scheidt, Inc., American Roland Food Corp., Pro Warehouse Corp., and Costamar Corp. companies.
Terms of the transaction were not disclosed, and it is expected to close by the end of September.
Roland Foods imports specialty food products from more than 40 countries. The company has a presence in the food service, retail and industrial channels as well as international sales in the Caribbean, Central and South America, Asia, Africa and the Middle East.
Vestar Capital Partners is a private equity firm specializing in management buyouts and growth capital investments. The firm invests and collaborates with management teams and private owners to build long-term enterprise value. Specifically, the firm targets companies with enterprise values ranging from $100 million to $1 billion. Vestar currently has a going private investment in Del Monte Foods, and the company had a recapitalization investment in Birds Eye Foods from 2002 to 2009.“Roland Foods is a great company with a unique niche and superb reputation in the industry and an exceptional initial investment for our new Vestar VI fund,” said Dan O’Connell, founder and chief executive officer of Vestar. “Roland Foods is not only performing extremely well but also has impressive potential. Coupled with the bright growth outlook we see in the specialty foods sector, we believe Vestar’s resources and experience in the food and branded products arena can help Roland Foods grow substantially.”