US private equity firm Peak Rock Capita has acquired food and beverage company Berner Food for an undisclosed sum.
Executives for the two companies said in a statement that the acquisition will allow Berner to grow its business and expand its production line of shelf-stable, dairy-based food products, including dips, sauces, aerosol cheeses and coffee drinks. The Chicago-based company’s customers include private-label retailers and consumer packaged goods companies.
“Our decision to invest in Berner was predicated on a number of highly attractive characteristics of the business, including its broad product offering, best-in-class manufacturing capabilities and leading blue-chip customer base,” said Peak Rock principal Robert Pistilli.
Berner chief executive Steve Kneubuehl added that under the new ownership his company would have “added resources necessary to further grow the business and facilitate product expansion”.
Peak Rock Capital, a mid-market growth-focused firm, adds Berner to a diverse portfolio that includes food companies Highline Mushrooms and Natural American Foods, a honey and sweetener manufacturer.