Vestar Capital Closes Recapitalization of Roland Foods
Vestar Capital Partners, a U.S. middle-market private-equity firm, has closed the recapitalization of Roland Foods LLC a branded purveyor of premium global ingredients that has served the foodservice industry for more than 90 years.
As part of the deal, Vestar and its co-investors have made a significant growth capital investment in addition to refinancing Roland’s credit facilities. The recapitalization positions the company for the ongoing execution of its organic growth strategy and provides considerable dry powder for future acquisitions. Terms of the transaction weren’t disclosed.
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“Roland has been a very successful investment for Vestar thus far, and we are thrilled to continue our partnership with CEO Keith Dougherty and the Roland management team to support the company’s continued growth and expansion,” noted Ken O’Keefe, managing director and COO at New York-based Vestar, as well as a member of the board of Roland. “Over the course of our ownership, Roland has scaled significantly and materially expanded its product offerings, both organically and through the acquisitions of AUI Fine Foods and ifiGOURMET. We see a tremendous opportunity to continue to scale the platform via M&A and additional investments across the organization.”
“We have been very strategic about our growth, and this new capital will help support future acquisitions and other initiatives that will allow us to take advantage of strong demand for specialty foods and ingredients,” added Dougherty. “We’re excited to keep moving forward with a partner that truly understands our business, and we thank the Vestar team for their ongoing support.”
With a curated portfolio of more than 2,400 products sourced worldwide, Roland is an established brand in the fine food category.
