Two weeks after acquisition, Stonewall Kitchen adds another investor
Photo / William Hall
Stonewall Kitchen, whose Portland store is shown here, has added a minority investor, Yukon Partners.
Stonewall Kitchen, the York-based specialty food producer acquired earlier this month by a Boston private equity firm, has added another investor.
Yukon Partners, a provider of mezzanine capital for private equity transactions, is supporting the acquisition by Audax Private Equity, according to a news release Tuesday.
Yukon did not disclose the amount of its investment, and calls to the firm for more information were unsuccessful. Yukon, based in Minneapolis and Boston, typically takes a $10 million to $50 million minority position behind the lead investor in each transaction, the release said.
Besides Stonewall, the firm’s current investment portfolio of 25 companies includes a range of health care, consumer and technology businesses. Among them is Golding Farms Foods, a North Carolina specialty food maker. In that 2017 deal, Yukon supported an investment by Centre Partners, the New York firm that sold Stonewall to Audax.
Centre acquired Stonewall in 2014, and one of the firm’s former members, John Stiker, serves as the Maine company’s CEO.
With the sale to Audax, Stonewall plans to continue its own acquisitions — of products and brands — and to expand its retail footprint, the company said Aug. 1.
Founded in 1991 by partners Jonathan King and Jim Stott, Stonewall Kitchen began business by selling jams and jellies at local farmers' markets. Today its product line includes sauces, condiments, crackers and baking mixes.
The company has more than 8,500 wholesale accounts in the U.S. and elsewhere, operates two cooking schools, and sells through an online and catalog division as well as retail stores in Camden, Portland, York and six other New England locations.
Most Recent
Most Recent
0 Comments