{"id":658120,"date":"2013-05-15T10:39:28","date_gmt":"2013-05-15T14:39:28","guid":{"rendered":"http:\/\/www.pehub.com\/?p=202098"},"modified":"2013-05-15T10:39:28","modified_gmt":"2013-05-15T14:39:28","slug":"hearthside-food-solutions-and-ryt-way-to-merge","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/658120","title":{"rendered":"Hearthside Food Solutions and Ryt-way to Merge"},"content":{"rendered":"

Wind Point Partners<\/strong> said Wednesday that two of its portfolio companies, Hearthside Food Solutions <\/strong>and Ryt-way Industries<\/strong>, will be merging in late May. The transaction will create a contract food producer in North America with over $1 billion in sales and 19 facilities in seven states. Based in Downers Grove, Ill., Hearthside Food Solutions is the largest independent bakery in the U.S. Ryt-way, which is in Lakeville, Minn., is a provider of packaging equipment solutions to food and consumer brands.<\/p>\n

PRESS RELEASE<\/p>\n

Chicago, IL,\u00a0May 15, 2013\u00a0\u2014\u00a0Wind Point Partners, a Chicago-based private equity firm, today announced plans to merge two of its portfolio companies \u2013 Hearthside Food Solutions and Ryt-way Industries. The merger, which will take effect in late May, will create the leading contract food manufacturer in North America, with over $1 billion in sales and 19 manufacturing facilities across seven states.<\/p>\n

Wind Point acquired Hearthside in April 2009 and Ryt-way in August 2008. Both companies provide contract manufacturing services to leading food and consumer packaged goods companies in North America. During Wind Point\u2019s ownership, Hearthside and Ryt-way each completed three acquisitions that further diversified each company\u2019s customer base and product portfolio.<\/p>\n

Rich Scalise, CEO of Hearthside Food Solutions, will assume the role of CEO for the combined business. Rich is a 35-year veteran of the food industry who most recently served as President of Ralcorp Frozen Bakery Products, a division of Ralcorp Holdings, Inc. (NYSE:RAH). Rich previously spent 18 years with ConAgra Foods (NYSE:CAG) in a number of roles including his last position as President and COO of ConAgra\u2019s $3 billion Refrigerated Foods Division.<\/p>\n

\u201cHearthside and Ryt-way have a complementary customer base and supply chain capabilities. The combined company will be not only significantly larger but also able to deliver a wider array of services,\u201d said Rich.<\/p>\n

David Finch, CEO of Ryt-way, added, \u201cThis is a great opportunity for our customers. By offering a broader suite of capabilities, Hearthside and Ryt-way will become a one-stop shop for contract manufacturing.\u201d<\/p>\n

\u201cRich and David have done an excellent job driving strong revenue growth, commercializing new products and completing accretive acquisitions at Hearthside and Ryt-way,\u201d said Mark Burgett, a managing director at Wind Point. \u201cBy combining two industry leaders, we are able to create significant growth opportunities for the business in addition to value for our investors. Given the similarities between the businesses, we expect to start realizing benefits immediately.\u201d<\/p>\n

About Wind Point Partners<\/p>\n

Wind Point Partners is a private equity investment firm that manages commitments of approximately $2.5 billion. Wind Point focuses on partnering with top caliber CEOs to acquire middle market businesses where we can establish a clear path to value creation.\u00a0Additional information about Wind Point is available at\u00a0www.windpointpartners.com.<\/p>\n

About Hearthside Food Solutions<\/p>\n

Hearthside Food Solutions, headquartered in Downers Grove, Ill., is the nation\u2019s largest independent bakery and a full service contract manufacturer of high quality grain-based food and snack products for some of the world\u2019s leading premier brands. Hearthside operates 12 food manufacturing facilities in five states. For more information on Hearthside Food Solutions, visit\u00a0www.hearthsidefoods.com.<\/p>\n

About Ryt-way Industries<\/p>\n

Ryt-way, headquartered in Lakeville, Minn., is a leading provider of contract manufacturing and high performance packaging equipment solutions to North America\u2019s leading food and consumer products companies. Ryt-way is known for its flexibility, scale and commercialization expertise in dry foods. Ryt-way operates seven production facilities across four states. Additional information about Ryt-way is available at\u00a0www.rytway.com.<\/p>\n

The post Hearthside Food Solutions and Ryt-way to Merge<\/a> appeared first on peHUB<\/a>.<\/p>\n

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Wind Point Partners said Wednesday that two of its portfolio companies, Hearthside Food Solutions and Ryt-way Industries, will be merging in late May. The transaction will create a contract food producer in North America with over $1 billion in sales and 19 facilities in seven states. Based in Downers Grove, Ill., Hearthside Food Solutions is […]<\/p>\n","protected":false},"author":8321,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-658120","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/658120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/8321"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=658120"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/658120\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=658120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=658120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=658120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}