Boca Raton, Fla., Jun. 24 - Sun Capital Partners, Inc., a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that one of its affiliates has acquired Sunrise Growers~Frozsun Foods and its affiliates and subsidiaries (collectively, “Sunrise”), a leading value-added U.S. supplier of frozen strawberry products as well as a distributor and marketer of fresh strawberries and red peppers.
Sunrise sells under its own brands as well as through its customers’ private label programs. Its frozen berry operations produce in excess of 130 million pounds of processed strawberry and other fruit products annually, giving Sunrise the number one U.S. market share in frozen strawberries. The fresh fruit segment, distributes over seven million trays of fresh strawberries annually. Customers of Sunrise include leading grocers, foodservice retailers and food distributors. Terms of the acquisition were not disclosed.
Matthew N. Garff, Principal, Sun Capital Partners, Inc., commented, “We are delighted to add Sunrise to our portfolio. The management team of Sunrise has done an excellent job in establishing a customer-focused business. Their growth initiatives and innovative ideas are developed with a keen eye toward providing solutions to its customers. This focus is a recipe for continued growth and success.”
Edward Haft, President and CEO of Sunrise Growers~Frozsun Foods, said, “We are very pleased to join forces with Sun Capital Partners. This partnership will further enable us to execute our strategic initiatives in the areas of product innovation, fruit sourcing, operating efficiencies, and food safety, moving Sunrise towards its goal of driving profitable growth for our loyal customer base.”
MHT Securities, L.P., a wholly owned subsidiary of MHT Partners, acted as the exclusive advisor to the seller in this transaction.