RICHMOND, VA. — Graham Partners, Inc. has acquired Mercer Foods, L.L.C., a full service freeze-dried food provider, from Frontenac Co. and Lake Pacific Partners, L.L.C. Financial terms of the transaction were not disclosed.
Founded in 1980, Mercer Foods produces natural and organic freeze-dried fruits, vegetables and other foods and ingredients. The company operates out of a 140,000-square-foot facility in Modesto, Calif., and provides its products to hundreds of food manufacturers, food retailers and food service companies.
Graham Partners is a private investment firm focused on investing in business with advanced industrial technologies, innovative product offerings and strong growth potential, the company said. Since the firm’s founding in 1988, Graham Partners has closed more than 80 acquisitions, joint ventures, financings and divestitures.“There continues to be strong interest in the M.&A. market for food ingredient and better-for-you snack food businesses,” said Brant Cash, a director at Harris Williams & Co., adviser to Mercer Foods. “Mercer Foods’ products deliver the clean ingredient panels and offer the healthy snacking alternatives consumers want. In addition, the company’s compelling growth trends attracted significant investor interest.”