Cascadia Advises Burlington Capital Partners in its Sale of Solo Foods, LLC.

Solo Foods, LLC Logo a portfolio company of Burlington Capital Partners Logo has been acquired by Saco Foods Holdings, LLC, a portfolio company of Benford Capital Partners Logo

Cascadia Capital is pleased to announce that it acted as the exclusive financial advisor to Burlington Capital Partners (“Burlington Capital”), a Chicago-based leading lower middle market private equity firm investing in family and founder-owned businesses, in its sale of Solo Foods, LLC (“Solo”) to Saco Foods Holdings, LLC (“Saco”).

Solo is a provider of branded fruit fillings and pastes for at-home bakery applications. Saco is a niche market-leading food products company that has acquired several specialty baking ingredients brands since partnering with Benford Capital Partners (“Benford Capital”), another Chicago-based private equity firm. Solo was divested from Burlington Capital’s portfolio company, Sokol & Company, a custom food ingredient manufacturer, who will continue to provide manufacturing services for the Solo brand following the acquisition.

Founded in 1925 and headquartered in Countryside, Illinois, Solo boasts a portfolio of premium quality fillings and toppings used in all types of bakery products. Solo’s products include cake & pastry fruit fillings, nut pastes, and marzipan, which are primarily sold in the center-store baking aisle in traditional supermarkets and mass retailers in the U.S.

“We are extremely pleased with the outcome of the Solo sale to Saco,” said Tim Novak, Partner at Burlington Capital and Chairman of Sokol & Company. “The Cascadia team diligently understood our business, our go-forward strategy, and our desire to find a partner who could best drive sales, marketing, and distribution of a 100-year-old brand while still leveraging Sokol’s world-class manufacturing capabilities. A win-win outcome.”

“It was an honor to work with the team at Burlington Capital Partners and Solo and represent such a storied brand and leader in specialty bakery ingredients. We believe their partnership with Benford Capital and the Saco platform will create meaningful growth opportunities and value for all stakeholders. We continue to see great momentum in our Ingredients and Bakery practice and expect significant transaction activity ahead in 2024,” commented George Sent, Cascadia Managing Director.

Related Transactions

This acquisition represents another successful transaction for Cascadia’s Food, Beverage & Agribusiness group in the ingredients sector. Past transactions include:

Ever Fresh Fruit Logo has been recapitalized by Tilia Holdings Logo
Graham Partners Logo Has Acquired Commercial Bakeries Logo
Chef Merito Seasonings, a portfolio company of PNC Riverarch Capital Logo has invested in La Fiesta Food Products Logo
Titan Frozen Fruit Logo has been recapitalized by Windhover Capital and Vestar Capital Partners Logo
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