MIAMI, April 24 /CNW/ - Bayside Capital, a leading private equity firm,
announced today a strategic investment in Ready Pac Foods, Inc. ("Ready Pac"
or the "Company"). Ready Pac, with revenues in excess of $700 million, is a
leading provider of fresh cut produce and fresh prepared foods with facilities
located throughout the United States. The Company has been delivering the
highest quality packaged salad, fruits and vegetables for over 30 years. Terms
of the transaction were not disclosed.
Ready Pac Chairman and CEO Dennis Gertmenian commented, "We are excited
to partner with a premier private equity firm to help facilitate our growth.
Bayside's investment allows us to accelerate our 38 year history of partnering
with our customers to bring high quality innovative new products to market
while providing excellent service."
"Bayside views its investment in Ready Pac as a flagship investment in
the fast growing fresh prepared foods industry segment. We will leverage our
financial resources to enhance the company's operational excellence and
industry leadership," said Tiffany Kosch of Bayside Capital. "The Company has
an outstanding management team, leading market position and, with our
resources, is well-positioned to capitalize on the many opportunities created
by the strong customer demand for its products."
About Bayside Capital
Bayside Capital is a private investment firm which actively invests in
the debt and equity of middle market companies that can benefit from
operational enhancements, improved access to capital, or balance sheet
realignments. Bayside Capital is an affiliate of H.I.G. Capital, a leading
private equity investment firm specializing in acquisitions and
recapitalizations of middle market businesses. Based in Miami, Florida, and
with offices in Atlanta, Boston, and San Francisco, H.I.G. is one of the most
active private equity investors in small and medium-sized companies. We have
available in excess of $3.5 billion of committed equity capital to support our
investment activities. The firm currently manages a portfolio of more than 50
companies with combined revenues of more than $7 billion.
For further information:
For further information: Bayside Capital, Miami Anthony DiSimone,
Managing Director, 305-379-8686 firstname.lastname@example.org or Tiffany Kosch,