Westbrook, ME – October 19, 2018
Schlotterbeck & Foss, LLC (“S&F”), a leading manufacturer of premium, private label and branded sauces, condiments, dressings and dessert sauces, announced its acquisition of Drew’s Organics (“Drew’s”), a manufacturer of organic and non-GMO dressings, marinades and salsas based in Chester, Vermont. The transaction was completed by Frontenac, a majority owner of S&F and private equity firm focused on investing in the lower middle market. Terms of the transaction were not disclosed.
Over the last 20 years, Drew’s Organics has been crafting a wide variety of dressings and salsas infused with authentic regional and ethnic flavors. Drew’s features fresh, organic and non-GMO ingredients in its products with high-quality organic oils. Drew’s also provides gluten-free, vegan / plant-based, paleo and no added sugar options. Drew’s services the retail grocery and other channels through its branded and private label offerings.
Headquartered in Westbrook, Maine, S&F manufactures specialty food products with natural, non-GMO and organic ingredients in their new, SQF-certified facility. According to Dave Hambright, President of S&F, “Combining Drew’s robust supply chain in the organic and better-for-you segment and S&F’s expertise in the premium specialty segment enables us to build out a broader portfolio of offerings for our customers. We now have two exceptional manufacturing facilities and are working to leverage the talents of our highly engaged team to unlock the growth potential of the consolidated organization.”
“Drew’s is a very complementary fit with S&F. It not only expands the S&F customer base and product offering but adds a second, highly efficient small batch facility to the manufacturing footprint,” said Walter Florence, Frontenac Managing Partner. “We are excited to partner with Drew’s and its leadership team and look forward to working together.”
Frontenac is a leading private equity firm, based in Chicago. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with proven operating leaders, through our executive-centric approach called CEO1ST, to identify, acquire, and build market leading companies through transformational acquisitions and operational excellence. The firm has built a leading franchise working with over 275 owners of mid-sized businesses, almost always families or founders, as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit www.frontenac.com.