#United States #Greenwich #Rich Products #Brynwood Partners #Great Kitchens

Brynwood Partners VIII Completes Sale of Great Kitchens Food Company

Brynwood Partners VIII L.P. (commonly known as Brynwood VIII) has recently finalized the sale of its portfolio subsidiary, Great Kitchens Food Company, to Rich Products Corporation. This marks a significant milestone for Brynwood, demonstrating their commitment to growth in the food sector. Rich Products, known for its expansive global reach and strong annual sales of $6 billion, has a workforce exceeding 13,000 across over 100 countries. The transaction closed quietly, with specific financial details remaining undisclosed.

An Overview of Great Kitchens

Established in December 2020 by Brynwood VIII, Great Kitchens was created specifically to acquire the take-and-bake pizza and flatbread segment of ARYZTA North America. The company has quickly positioned itself as a leader in the private label market for take-and-bake pizzas, flatbreads, and various other baked products. Notably, it also manufactures the well-loved Pizzeria Uno Chicago deep-dish pizza after acquiring the Uno Foods Division of Uno Restaurant Holdings in February 2023. Great Kitchens reaches consumers through several channels including grocery stores, wholesale clubs, food service operations, and online platforms.

With operations centralized in three primary facilities in Romeoville, IL; Chicago Heights, IL; and Brockton, MA, Great Kitchens employs over 1,200 passionate individuals. Their operations play a pivotal role in producing their popular offerings, including strombolis and calzones, to meet the growing demand for quality frozen food options in the U.S. market.

The Impact of the Sale

Henk Hartong, Chairman and CEO of Brynwood Partners, expressed gratitude towards the employees for their hard work and dedication. He mentioned, “We are pleased to announce the divestiture of Great Kitchens Food Company to Rich's. Our employees and management team worked tirelessly to grow and improve the business during our ownership.”

The sale of Great Kitchens is part of a broader trend within Brynwood Partners, who have engineered a series of successful transactions recently. Just months prior, they sold Harvest Hill Beverage Company for a notable sum and engaged in further acquisitions, significantly enriching their portfolio which now includes the likes of Carolina Beverage Group and Hometown Food Company.

Brynwood Partners VIII has also established a new private equity fund, Brynwood IX, which is $750 million in size and established in 2023. With the conclusion of this sale, their investment portfolio reflects a robust presence in the consumer goods space, with collective annual sales exceeding $2.5 billion.

About the New Owners

Rich Products Corporation, based in Buffalo, NY, is celebrated for its innovative approach to food solutions, extending beyond just traditional products. By acquiring Great Kitchens, Rich's continues to bolster its market offerings, enhancing its strategy to meet diverse consumer needs around the globe. Their mission revolves around family values, creativity, and innovation in the food industry, assuring their customers of high-quality products and valuable insights to navigate the competitive foodservice landscape.

As the food industry continues to expand and evolve, both Brynwood Partners and Rich Products Corporation are strategically positioned to thrive, fueling growth and providing consumers with delicious options.

For additional information on Great Kitchens Food Company, you can visit their website at www.gkitchens.com. For details about Brynwood Partners, please check www.brynwoodpartners.com. To learn more about Rich Products Corporation, visit www.richs.com.