Insight Equity Holdings LLC, a middle-market private equity firm, announced May 24 it has acquired the soup and infant feeding business from TreeHouse Foods Inc.
This is the fourth platform acquisition for Insight Equity III LP and upon completion, the business was renamed Riverbend Foods LLC. No price for the transaction was announced.
Riverbend Foods is a leading manufacturer of soups, broths, gravies, and infant feeding products sold in cans, jars and TetraRecart cartons. Based in Pittsburgh, the company owns and operates a USDA and BRC certified 625,000 square foot facility with broad manufacturing capabilities and a track record of delivering high-quality products that meet the demands of a discerning customer base.
“The acquisition of Riverbend Foods presents a unique opportunity to acquire a food manufacturing platform with numerous attractive growth opportunities,” said Jack Waterstreet, partner at Insight Equity. “We believe the business has opportunities in its existing categories as well as attractive adjacent categories and we are delighted to welcome Riverbend Foods to our portfolio.”
Neal Jain, a vice president at Insight Equity, said the firm is considering further investments and acquisitions in that space.”