Brynwood Partners May Be Shopping Hometown Food Company
Hometown Food Co., the firm cobbled together by private equity firm Brynwood Partners, may be up for sale, according to a Reuters news report.
Brynwood, which has owned Hometown since September 2018, is working with investment bank Houlihan Lokey on a sale process that could value Hometown at around $800 million, Reuters quoted “people familiar with the matter.”
The report said Hometown generates around $90 million in 12-month adjusted earnings before interest, taxes, depreciation and amortization. Reuters couldn’t get a comment out of Brynwood, Houlihan Lokey nor Hometown.
Brynwood bought a portfolio of brands from J.M. Smucker Co. for approximately $375 million and named the new firm Hometown Food Co. (www.hometownfoodcompany.com). Headquarters are in Chicago and its 650,000-sq.-ft. manufacturing facility is in Toledo, Ohio.
Most of the product lines go back to the old Pillsbury Co. The portfolio includes Pillsbury branded shelf-stable baking and dessert products (and use of the iconic Pillsbury Doughboy character), plus Funfetti, Hungry Jack, White Lily, Jim Dandy and Martha White brands.
In 2019, Hometown bought the Arrowhead Mills and SunSpire brands of the Hain Celestial Group. Last year, it acquired Birch Benders from Sovos Brands.
About the Author
Dave Fusaro
Editor in Chief
Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.