Brynwood Partners IX L.P. announced today that its newly-formed portfolio company, West Madison Foods, has entered into a definitive agreement to acquire the Marie’s salad dressing brand and the Dean’s Dip business from Ventura Foods, LLC. The transaction includes the Thornton, IL factory where the products are manufactured. The terms of the transaction are not being disclosed.
West Madison Foods was established by Brynwood Partners to acquire the Marie’s salad dressing and the Dean’s Dip assets from Ventura Foods. West Madison Foods will be headquartered in Chicago, IL and the Thornton, IL manufacturing facility, with its approximately 84 full-time employees, will continue to support the business. In addition, a small group of employees dedicated to the Marie’s and Dean’s brands may also transition to West Madison Foods.
Marie’s is a category leader specializing in the production and distribution of premium salad dressings, dips and spreads. With a strong focus on quality, taste and culinary innovation, Marie’s has established itself as a trusted brand among consumers and is considered a pioneer in the refrigerated salad dressing space. Marie’s is a leading brand and its Blue Cheese, Caesar, Ranch and Coleslaw salad dressings are top sellers in the category.
Dean’s Dip is a household name and a trusted provider of gourmet dips and spreads. With a commitment to delivering exceptional flavor and quality, Dean’s has established itself as a leading dairy dip player, catering to the diverse snacking and entertaining needs of consumers nationwide. Dean’s Dip is universally known for its French Onion, Ranch and Guacamole dips, among others.
“Dean’s and Marie’s are extraordinary brands, and we are delighted to lead these brands into their next phase of growth and expansion. We look forward to partnering with the team in Thornton to enhance manufacturing and bring more products and new innovations to market. We thank the Ventura Foods team for being a great partner in the transaction,” said Henk Hartong III, Chairman and CEO of Brynwood Partners.
“The acquisition of West Madison Foods represents another corporate carveout for Brynwood, an area where we have developed a specific investment expertise. We have completed three carveouts in the last seven months starting with Birch Benders in December 2022, followed by Uno Foods in March 2023 and now the Dean’s Dip and Marie’s businesses.”
The Brynwood Partners portfolio also includes Harvest Hill Beverage Company, Carolina Beverage Group, Hometown Food Company, Buitoni Food Company and Great Kitchens Food Company. West Madison Foods increases the total Brynwood manufacturing network to 17 facilities, approximately 4,700 employees and more than $2.6 billion in annual sales.
Brynwood Partners was represented by Winston & Strawn on legal matters. BofA Securities served as financial advisor and Pillsbury Winthrop Shaw Pittman served as legal advisor to Ventura Foods.
About Brynwood Partners:
Based in Greenwich, CT, Brynwood Partners, is an operationally-focused private equity firm that has been making control investments in North American-based lower middle market companies since 1984. The firm targets non-core brands and companies operating in the consumer sector. Brynwood Partners currently manages more than $1 billion of private equity capital for its limited partners, which include U.S. and international pension funds, fund-of-funds, endowments, foundations, high net worth family investment offices and financial institutions. For more information on Brynwood Partners, please visit www.brynwoodpartners.com.
About Ventura Foods:
Ventura Foods is a leading producer of exclusive products, ready-to-go solutions, and consumer brands in the dressings, sauces, mayonnaises, shortenings, and oils categories. Their customers include foodservice companies, restaurants, and retailers in over 70 countries. A privately held joint venture of CHS, Inc. and Mitsui & Co., with approximately $4 billion in annual revenue, Ventura Foods manufactures products in the US, Canada, Mexico and the Philippines. For more information visit venturafoods.com.
