CHICAGO, Ill. - Wind Point Partners, a private equity firm, has agreed to acquire Shearer's Foods, a private label salty snack manufacturer based in Brewster, Ohio, FoodBusinessNews.net reports.
C.J. Fraleigh, who most recently was chief executive officer of Sara Lee, will join Shearer's as chairman and CEO.
"With the growth of private label brands and the trend toward outsourcing for branded food companies, Shearer's is well positioned to continue its historical growth trajectory," Fraleigh said. "I look forward to working with the company's 1,850 employees to execute on growth opportunities we've identified and continue providing Shearer's customers with excellent service and consistently high quality products."
Terms of the agreement were not disclosed, and the transaction is expected to close in October.
Read the full story here.
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