FOR IMMEDIATE RELEASE
March 14, 2022
Contact: Jacob Ouellette
Stonewall Kitchen Announces Investment from TA Associates to Further Accelerate Growth
Leading provider of specialty food and lifestyle brands partners with Boston-based private equity firm
York, Maine, March 14, 2022 – Stonewall Kitchen announced today that TA Associates (“TA”), a leading global growth private equity firm, has invested in the company alongside the management team. Working together, TA and Stonewall Kitchen intend to continue the company’s accelerated growth through additional acquisitions and innovative new product launches, further solidifying the company as the leading specialty food and home goods platform in North America. Day-to-day operations of the company will be unchanged, and the company will continue to be run by the existing management team in the York, Maine headquarters, led by Chief Executive Officer John Stiker.
In 2019, Stonewall Kitchen partnered with Audax Private Equity to significantly expand its Family of Brands. Since that time, the company has added five more brands to its portfolio, including the Vermont Village® brand of organic apple sauce and apple cider vinegars; the Village Candle® brand of fragranced candles, gifts and accessories; the Urban Accents® brand of globally-inspired spice mixes, seasonings, and sauces; the Vermont Coffee Company® brand of high quality, non-GMO, certified organic coffee; and most recently the Michel Design Works® brand of elegantly designed and crafted personal and home care products.
“This has been an exciting few years at Stonewall Kitchen, as we have evolved from a standalone brand to a true Family of Brands in specialty food and home goods,” said CEO John Stiker. “Partnering with TA provides us with even greater support to continue this evolution as a leader in the industry, and we’re thrilled that they combine a network of global resources with a New England heritage.”
Added Bill Christ, a Managing Director at TA, “As longtime fans of the Stonewall Kitchen brand and its delicious products, we’re excited to invest in the company’s journey and partner with John and the entire management team. The culture and business practices at Stonewall Kitchen align closely with TA’s own philosophy and values, and we believe that we can transform the company together into an even more substantial enterprise.”
Concluded Stiker, “Alongside TA, we aim to continue our dynamic acquisition efforts while also growing our existing Family of Brands. Our focus will be on identifying products and brands that match our high-quality standards, and which preserve and enhance our core values and company culture. We’re excited to see what the future brings!”
About Stonewall Kitchen
Stonewall Kitchen is a leading specialty food, home goods and personal care producer headquartered in York, Maine. Founded in 1991 by partners Jonathan King and Jim Stott, the two established the Stonewall Kitchen brand by selling jams and jellies at local farmers’ markets with a flavorful line of distinctive and high-quality products. Over time, they expanded the brand to include sauces, condiments, crackers and baking mixes, always focusing on innovative product development, beautiful packaging, and exceptional guest service. Today, Stonewall Kitchen is the premier specialty food and home goods platform in North America, home to a family of premium quality brands including the flagship Stonewall Kitchen brand; the Michel Design Works brand of elegantly designed and crafted personal and home care products; the Vermont Coffee Company brand of high quality, non-GMO, certified organic coffee; the Urban Accents brand of globally-inspired spice mixes, seasonings, and sauces; the Village Candle brand of fragranced candles, gifts and accessories; the Tillen Farms brand of pickled vegetables and cocktail cherries; the Napa Valley Naturals brand of olive oils, culinary oils, balsamic vinegars and wine vinegars; the Montebello brand of artisan organic pasta imported from Italy; the Vermont Village brand of organic apple sauce and apple cider vinegars; and the Legal Sea Foods brand of restaurant-quality seafood sauces and condiments. The company can be found in more than 19,000 stores nationwide and internationally, boasts a thriving catalog and online division, and operates ten retail Company Stores throughout New England. As winners of 34 prestigious awards from the Specialty Food Association and the recipient of the coveted Outstanding Product Line Honors three times, Stonewall Kitchen is proud to be one of the most awarded specialty food companies in the country.
For more information about Stonewall Kitchen, please visit: www.stonewallkitchen.com
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong.
More information about TA can be found at www.ta.com.