Entrepreneurial Equity Partners (“e2p”), a Chicago-based private equity firm focused on the food and consumer packaged goods industries, announced today that it has acquired Roskam Baking Company (“Roskam” or the “Company”) and merged Roskam with Organic Milling, one of its portfolio companies. Financial terms of the transaction were not disclosed.
Founded in 1923 and headquartered in Grand Rapids, Michigan, Roskam is a leading contract manufacturer that supports many of America’s most iconic food brands and companies. Roskam is a scaled, diversified bakery operation with over two million square feet of manufacturing, warehouse, and office space across six facilities, including 30+ manufacturing and packaging lines. Roskam is a recognized leader with the ability to produce an extremely diverse set of frozen, refrigerated, and shelf-stable food products. As an industry leader in food safety operating across several facilities, the Company has the ability to handle allergens such as peanuts and dairy as well as special product types, including gluten-free and non-GMO, all in a safe and controlled environment.
e2p Managing Partner Mark Burgett, while at a different firm, acquired two businesses from the Roskam family, including the assets that formed the core of Hearthside Food Solutions, LLC (“Hearthside”). Given the positive experience that Mr. Roskam had during both transactions and the trust that has developed since those deals, Mr. Roskam proactively reached out to Mr. Burgett to initiate the sale of the balance of his family business.
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