US private-equity house Brynwood Partners has revealed the name of the company it has set up to manage the assets it bought off local food business J.M. Smucker in August.
And it has also appointed senior management to run the new business, Hometown Food Company.
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Connecticut-based Brynwood paid US$375m for the US bakery and dessert assets of J.M. Smucker in July. These included Pillsbury, Hungry Jack and Martha White.
Hometown Foods will have its headquarters in Chicago and will operate its 650,000 sq ft manufacturing facility in Toledo, Ohio.
Brynwood has brought in Daniel Butler as its president and chief executive officer.
Butler was most recently president and CEO of Wilton Brands and also worked at Kraft Foods for 17 years where he held senior level sales, marketing and general management positions.
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By GlobalDataIn addition to Butler, the company has hired Tim Young, David Meltzer and Dan Anglemyer who are joining Hometown Foods as its chief financial officer, EVP of sales and chief marketing officer, respectively.
Most recently, Young was with Treehouse Foods, Meltzer was with Richelieu Foods and Anglemyer was with Back to Nature Foods Company.
Hometown Food Company said it ultimately expects to employ approximately 50 people in its Chicago headquarters.
Henk Hartong III, chairman and CEO of Brynwood Partners, said: “We are excited to have a very talented management team in place at the closing and will be off to a fast start with the new company.
“We are looking forward to working closely with Dan and his team to bring focus and energy to this business and to execute on our strategy to grow these great brands in the years to come.
“Additionally, as we have done so successfully in past portfolio company investments, we will aggressively seek to identify and make add-on acquisitions where they fit our strategy.”
