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Riverside Expands Specialty Food Company Portfolio with Acquisition of Parker Products.

M2 EQUITYBITES-October 3, 2017-Riverside Expands Specialty Food Company Portfolio with Acquisition of Parker Products

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3 October 2017 - New York, US-based private equity firm The Riverside Co has acquired Texas, US-based specialty food and ingredient manufacturer serving the food and beverage industry Parker Products to expand Riverside portfolio of specialty food companies, the firm said.

Terms of the transaction were not disclosed.

Parker said its acquisition by The Riverside Co is an investment opportunity that will accelerate growth, and allow the company to increase capabilities and expand product offerings.

Riverside has a growing portfolio of specialty food companies, including Tate's Bake Shop, Nustef Foods, Uinta Brewing company, and YumEarth. The firm will use this experience with diverse food and beverage brands to drive continued success for Parker.

Parker's leadership team will remain in place following the acquisition. Parker broke ground on a new facility last December, and the company's operations will move to the new location once it is complete in early 2018. The new facility will triple the company's total production capacity, accommodating anticipated growth following the acquisition.

Parker Products offers ingredients, creative inclusions, flavor systems and grinds like agave-glazed quinoa, blueberry-rosemary fruit prep, and natural peppermint candy grinds.

The Riverside Company is focussed on investing in growing small and medium-sized enterprises. Since its founding in 1988, the firm has invested in more than 430 acquisitions.

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Date:Oct 3, 2017
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