Harwood Private Equity acquires Crest Foods
Founded in 1946, the Illinois-based company provides dairy stabilizers, contract packaging, and dry food manufacturing to branded and private label customers.
Takeaways
- Crest Foods is a provider of dairy stabilizers, contract packaging, and dry food manufacturing services.
- The target serves branded and private label food companies across Illinois.
Harwood Private Equity completed a platform investment in Crest Foods, a 1946-founded provider of dairy stabilizers, contract packaging, and branded and private label dry food manufacturing based in Illinois.
The company operates three business lines serving branded and private label food companies.
The transaction included acquisition financing and a sale-leaseback of Crest's 575,000-square-foot contract packaging and distribution facility in Ashton, Illinois, through TPG Angelo Gordon's Net Lease business.
Brown Gibbons Lang & Company served as exclusive financial advisor to Harwood, with its Food & Beverage, Debt Capital Markets, and Real Estate teams collaborating on the integrated assignment.
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