Paine & Partners announces investment in SGF Produce
Paine & Partners, a US-based private equity investment firm, has announced that it has made an i…Paine & Partners, a US-based private equity investment firm, has announced that it has made an investment in SGF Produce Holdings, the parent company of Sunrise Growers~Frozsun Foods.
SGF Produce, an affiliated portfolio company of Sun Capital Partners, is a frozen fruit processor and marketer. Headquartered in Placentia, California and founded in 1977, it operates processing facilities in Oxnard and Santa Maria, California.
Its product range includes frozen strawberries, blueberries, blackberries, raspberries, cherries, peaches and fruit blends in multiple product specifications and packaging configurations. The company's consumer products are sold primarily under customers' private label brands and also under the Sunrise Growers brand name.
Following the completion of the transaction, SGF Produce will no longer be an affiliated portfolio company of Sun Capital. The financial terms of the transaction have not been disclosed.
Paine & Partners founding partner Kevin Schwartz said the company has invested in SGF Produce as it is capable of meeting the increasing consumer demand for healthy food options and quality frozen fruit products.
SGF Produce president and CEO Edward Haft said, "With Paine & Partners, we will continue to build on our diverse portfolio of quality products, state-of-the-art processing facilities and industry leading food safety practices.
"We look forward to working with the Paine & Partners team, whose experience investing across the food and agribusiness value chain and resources will help us achieve our long-term potential as we continue to develop and expand our business," added Haft.
Edward Haft will continue as the president and chief executive officer for SGF Produce, along with the company's senior management team.
