Food and manufacturing-focused private equity firm Burlington Capital Partners has bought 127-year-old food ingredients business Sokol & Company.
Sokol, which was founded in 1985, makes fillings, pastes and sauces, including Jim Beam sauces and Dickey’s barbecue sauces.
Burlington said it had effected a unique management-led buyout intended to maintain the family legacy.
Tim Novak, who currently serves as fifth generation president of Sokol, said, “It is very exciting that Sokol now has institutional partners capable of accelerating growth while still upholding our culture and values which have persisted for the last 127 years.”
Burlington partner Michael Baldwin added, “Sokol’s flexibility with materials, allergens, ingredients, pack sizes, and order sizes positions it well to support emerging trends and innovation demanded in today’s evolving market.”
Gladstone Capital provided both senior debt financing and an equity co-investment in support of the transaction.
Copyright © 2022 AltAssets
