FOR IMMEDIATE RELEASE:
October 27, 2014
Contact: Janine Somers, Director of Marketing
Stonewall Kitchen Partners with Centre Partners to Achieve Company Growth Potential
York, Maine, October 27, 2014 — Leading specialty food manufacturer and retailer, Stonewall Kitchen, announced today its new partnership with Centre Partners, a leading investment firm with a successful track record in the food and consumer products industries. Stonewall Kitchen, founded in 1991 by Jonathan King and Jim Stott, has grown to become a well-known brand in specialty jams, sauces, crackers, pancake mixes, and numerous other categories. It will continue to be managed by the existing leadership team with the addition of John Stiker, Operating Partner at Centre, who will join the company as Chief Executive Officer. Jonathan King will remain on board as the Chief Creative Officer, Natalie King will remain in her position as the Executive Vice President and Lori King has been promoted to President. Jim Stott, who has been semi-retired for the last few years, will now enjoy a full retirement. John Stiker joins Stonewall Kitchen following key leadership positions in other food companies including Bumble Bee Seafoods and Distant Lands Coffee. Stonewall Kitchen currently employs more than 300 people and anticipates an increase in hiring activity as it continues to grow.
According to Founder Jonathan King, “For almost 25 years, my partner, Jim Stott, and I have worked hard to build an authentic brand, focused on creating the highest quality and most innovative specialty foods possible. We are pleased to partner with Centre as they have earned a strong reputation for being a great partner for management teams looking to grow their business while preserving the core values, brand and quality of their products.”
King continued, “We believe that the combination of Centre’s resources and John Stiker’s capabilities, together with the expertise of our leadership team, will position Stonewall Kitchen to achieve the next level of growth.”
“Stonewall Kitchen is a special brand committed to innovation, quality products and most importantly, its employees and community,” said John Stiker, new Chief Executive Officer for Stonewall Kitchen. “I am excited to join the team as this is a brand that I personally believe in and enjoy, and whose culture and business practices share our partnership philosophy and values.
Stiker continued, “I look forward to growing the Stonewall Kitchen business and enhancing the company’s success alongside a strong team of dedicated employees. Having grown up in Maine, coming to Stonewall Kitchen is like coming home.”
Sawaya Segalas & Co., LLC served as exclusive financial advisor to Stonewall Kitchen in connection with establishing its partnership with Centre Partners.
About Stonewall Kitchen
Headquartered in York, Maine, the nationally recognized manufacturing, retail and wholesale distribution company has been owned and operated by founders Jonathan King and Jim Stott since 1991. As one of the most awarded companies in the industry, Stonewall Kitchen is known for its innovative product development, beautiful packaging, extraordinary retail spaces and exceptional customer service. For more information, please visit www.stonewallkitchen.com.
About Centre Partners
Centre Partners, founded in 1986, is a leading private equity firm with a middle market focus that seeks to make acquisitions and equity investments alongside management teams who have or desire to make a meaningful economic stake in the future success of their businesses. Centre Partners has invested over $2 billion in more than 70 transactions, partnering with management teams across a broad spectrum of industries. Centre Partners provides those teams with access to its unique resources, which include an extended network of experienced and proven operating executives. The firm is currently investing through its sixth fund. Additional information is available at www.centrepartners.com.