TSG Consumer Partners Announces Sale Of Raybern Foods To Premium Brands
Source TSG Consumer Partners
SAN FRANCISCO--(BUSINESS WIRE)--TSG Consumer Partners (“TSG”), a leading private equity firm focused exclusively on the branded consumer sector, today announced that it has sold Raybern Foods, LLC (“Raybern’s” or the “Company”) to Premium Brands Holdings (“Premium Brands”). The terms of the transaction were not disclosed.
Founded in 1978, Raybern’s is a leading provider of branded, heat-and-serve deli-style sandwiches. The Company’s authentic handheld platform includes the #1 Selling Philly Cheesesteak Sandwich in the U.S. and more than a dozen other product types in both frozen and refrigerated offerings. The Company’s differentiated handheld sandwiches consist of high-quality, richly seasoned meats and cheeses, savory seasonings, proprietary cheese sauces, all in bakery-soft bread and wrapped in an artisan microwavable butcher paper.
“We have been very fortunate to work alongside the talented team at Raybern’s as the Company has continued its leadership position in the handcrafted sandwich/snack category,” said Pierre LeComte, Managing Director at TSG. “Throughout our investment, Raybern’s has expanded its innovative sandwich offerings, redesigned its packaging, diversified and expanded its customer base, and built a best-in-class manufacturing platform to enhance its operations. We are proud of all that Raybern’s has achieved and look forward to watching it continue to thrive as part of Premium Brands.”
Rob Leibowitz, CEO of Raybern’s, added, “The collaborative approach between TSG and Raybern’s has proven immensely valuable as we’ve continued to drive growth – helping us provide even more families with on-trend, delicious and convenient meal and snacking solutions. Premium Brands represents a fantastic partner as Raybern’s continues building on its current momentum.”
Piper Jaffray & Co. and Robert W. Baird & Co. served as financial advisors to Raybern’s and Ropes & Gray LLP served as legal advisor.
About TSG Consumer Partners
TSG Consumer Partners, LLC is a leading investment firm with approximately $5 billion of assets under management, focused exclusively on the branded consumer sector. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, beauty, personal care, household, apparel & accessories, and e-commerce sectors. Representative past and present partner companies include Duckhorn Wine Company, vitaminwater, thinkThin, popchips, Muscle Milk, Yard House, Stumptown, Pabst, Planet Fitness, REVOLVE, Backcountry, Smashbox Cosmetics, Pureology, Sexy Hair, e.l.f. Cosmetics and IT Cosmetics. For more information, please visit www.tsgconsumer.com.
About Raybern Foods
Raybern Foods manufactures, sells, and distributes authentic high quality heat and serve sandwiches and snacks throughout the United States servicing a wide range of customers under the Raybern’s® Brand. For further information, please contact customer service at Raybern’s at 888 44-ENJOY (888-443-6569) or [email protected], or visit www.rayberns.com.
