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Mayfield Heights, Ohio (October 21, 2015) – Linsalata Capital Partners (“LinCap”), a leading middle market private equity firm based in Cleveland, Ohio, announced the completion of the sale of Eatem Foods Company (“Eatem”) to Archer Daniels Midland Company (NYSE: ADM) on October 16, 2015.
Eatem, headquartered in Vineland, New Jersey, is a leading developer and producer of premium traditional, natural and organic savory flavor systems. Built on a rich, culinary heritage, Eatem provides the foundation for many of the country’s most recognizable savory brands. Eatem’s renowned combination of culinary expertise and technical know-how drives unique and exciting products and applications for its customers.
Eatem Foods marks LinCap’s second exit in the food sector which has been a targeted investment initiative. LinCap also has a food-related investment with Hospitality Mints.
“We are very pleased with the outcome of our partnership with the founders of Eatem Foods and the strategic initiatives and transition we implemented with an outstanding management team,” said Gregg Taber, Senior Managing Director at Linsalata Capital Partners. “ADM’s interest and acquisition of Eatem affirms the strategic value created by our focus on flavor solutions for our customers that uniquely address consumer demands for healthier foods, clean labels, ethnic cuisines and natural flavors.”
“LinCap was an excellent partner for management and supported our investments in flavor development, operational expansion and entry into additional markets and channels,” said Ron Savelli, Eatem’s Chief Executive Officer.
Murad Beg, Principal at Linsalata Capital Partners added, “We are proud of the team and the achievements under our partnership. The capabilities of the business will be a great addition to ADM.”
About Linsalata Capital Partners
Linsalata Capital Partners, located in the Cleveland, Ohio suburb of Mayfield Heights, was founded in 1984 and has combined its strong financial capabilities with extensive operational experience to accelerate the growth of middle market companies. In over 31 years of investing, the firm has completed more than 100 buyside transactions exceeding $3.5 billion. Linsalata Capital Partners is currently investing from Linsalata Capital Partners Fund VI, L.P., with $427 million in committed equity capital.