July 6, 2011
Wind Point Partners Acquires Rupari Foods
Wind Point Partners today announced that it has acquired Rupari Foods. Rupari supplies pre-cooked, ready-to-eat pork ribs and other barbecue products sold at food retailers and through foodservice operators under the Tony Roma’s and Butcher’s Prime brands.
Wind Point acquired Rupari in partnership with Bob Kopriva and John Rice, who will serve as active co-chairmen, and Rupari’s CEO Robert Mintz. Bob’s prior experience includes CEO of Sara Lee Foods, Senior Advisor at Bar-S Foods, and Chairman of Premium Standard Farms. John most recently served as President of the Americas at Unilever. Both Bob and John are members of Wind Point’s Executive Advisor team and they also serve on the boards of Wind Point portfolio companies Santa Maria Foods and Hearthside Food Solutions, respectively. Robert Mintz has over 23 years of experience in the meat industry and has served as CEO of Rupari since 1993. In addition, Paul Peitzsch, most recently CFO of Armour-Eckrich Meats and formerly CFO of ConAgra Refrigerated Foods, is joining Rupari as CFO.
Mark Burgett, a managing director at Wind Point, commented, “We have been working closely with Robert during nine months of due diligence to develop a clear plan to continue and support Rupari’s growth. We are excited that Bob and John will be bringing their extensive experience in the meat and consumer products industries to help drive that growth.”
Rupari Foods is the fifth platform for Wind Point VII, a $915 million fund closed in April 2009. Wind Point’s other current food industry investments include Hearthside Food Solutions, Nonni’s, Ryt-way Industries and Santa Maria Foods.
Robert Mintz, CEO of Rupari, stated, “Rupari has achieved significant growth as a family business and become a market leader in the ready-to-eat rib category. Partnering with Wind Point will allow us to grow Rupari into a world-class enterprise by accelerating the growth of our branded rib business, introducing new barbecue products, and increasing our presence in the ready-to-eat deli case.”
Senior debt for the transaction was provided by GE Antares, a unit of GE Capital, Fifth Third Bank’s Food & Agribusiness Group and SunTrust Robinson Humphrey. DLA Piper LLP acted as the legal advisor to Wind Point. Greenberg Traurig, LLP served as legal advisor to Rupari Foods.