Centre Partners, a leading middle market private equity firm with offices in New York and Los Angeles, today announced that it has made an investment in Golding Farms Foods, Inc., a leading manufacturer of private label, branded and co-manufactured sauces and condiments. Financial terms of the transaction were not disclosed.
Founded in 1972 by Tony Golding and based in Winston-Salem, North Carolina, Golding Farms maintains a best-in-class, SQF level 3-certified facility with highly efficient processing and packaging capabilities. The Company serves a wide range of end markets with product categories including Asian sauces, honeys, aiolis, steak sauces, syrups, Worcestershire sauces and relishes.
John Frostad, an entrepreneur and executive with over 30 years of experience in the private label and branded packaged food industry, will join the Golding Farms team as CEO. Mr. Frostad previously founded and served as President and CEO of Snack Alliance, a leading private label snack food manufacturer.
"Golding Farms has a 45-year history of providing excellent products and service to its retail grocery partners through its dedicated employees, impressive product development and innovation capabilities, and highly efficient manufacturing operation with leading food safety industry certifications," stated David Jaffe, a Managing Partner of Centre Partners. "Golding Farms represents an opportunity for us to invest in a high growth food business and accelerate growth further with additional management resources and investment capital."
"I am pleased to welcome Centre Partners and John Frostad to the Golding Farms family," stated Mr. Golding. "I am excited for this new partnership and look forward to a bright future."
"Golding Farms is a special company with long-standing relationships and commitments to its customers, suppliers and employees, as well as the Winston-Salem community," added Mr. Frostad. "I look forward to working with each of these constituents to grow Golding Farms in the coming years."
About Golding Farms Foods
Headquartered in Winston-Salem, North Carolina, Golding Farms Foods is leading manufacturer of private label, branded, and co-manufactured sauces and condiments. Founded by Tony Golding in 1972, Golding Farms maintains a best-in-class, SQF level 3-certified facility with highly-efficient processing and packaging capabilities to serve a wide range of end markets and product categories. For more information, please visit www.goldingfarms.com.
About Centre Partners
Founded in 1986, Centre Partners is a leading middle-market private equity firm focusing on the consumer and healthcare sectors, with offices in New York and Los Angeles. Centre has invested over $2 billion of equity capital in more than 75 transactions since its inception. Centre seeks to partner with founders and management teams to build exceptional businesses. Centre Partners provides management teams access to its unique resources, which includes an extended network of experienced and proven operating executives. Additional information is available at www.centrepartners.com.