LongueVue Capital has boosted its food and beverage investment strategy by bringing in industry expert David Darragh as an operating partner.
Darragh, who most recently served as president and CEO of New Orleans-based Reily Foods Company, has over three decades of experience as a senior executive accelerating the growth and profitability of branded product portfolios, contract manufacturing business lines, and private label operations.
Prior to Reily he served as president of Zatarain’s, a subsidiary of McCormick & Company, growing the business from a regional player to a national brand.
David also led the Hot Pockets brand of Chef America before it was sold to Nestle for $ 2.6bn 2002 içinde.
Ray Jeandron, the LVC partner who helps lead the firm’s strategy, said, “David has a tremendous track record of building best-in-class brands, highly efficient supply chains, and strong consumer reach across multiple geographies and product formats.
“We are excited to be pursuing opportunities with David in the vast and dynamic food and beverage sector.
“He is a great cultural fit here at LVC and will be a strong partner to our entrepreneurial management teams.”
LVC said it would pursue investment opportunities across the value chain, including value-added ingredient suppliers, contract manufacturers, innovative co-packing partners, and niche branded product companies.
The firm is focused on businesses with deep category experience, strong track records of innovation, exceptional quality and safety standards, and broad manufacturing or sourcing capabilities, it said.
LongueVue hit its $252m hard cap for its third flagship fundraise üç yıl önce.
New LPs including the University of Texas Investment Management Company helped LongueVue to the close.
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