EagleTree Capital Strengthens Portfolio with Acquisition of Summit Hill Foods

Summit Hill Foods, owner of Better Than Bouillon® and The Original Louisiana Hot Sauce™, acquired by EagleTree Capital.

EagleTree Capital, a leading New York-based private equity firm, announced its acquisition of Summit Hill Foods, the renowned owner of Better Than Bouillon® and The Original Louisiana Hot Sauce™. This strategic move adds two iconic brands to EagleTree's portfolio and expands its presence in the food industry.

Headquartered in Rome, Georgia, Summit Hill Foods has a rich history dating back to 1941, when it started as a family-owned bakery. Over the years, it has grown into a prominent branded food company, known for its premium brands, including Better Than Bouillon®, The Original Louisiana Hot Sauce™, and Better Than Gravy®. Summit Hill Foods has demonstrated a commitment to innovation, evident in its recent additions of new flavors to its product lineup.

The acquisition by EagleTree Capital marks an exciting milestone for both companies. Steve Goodyear, Chief Executive Officer of Summit Hill Foods, expressed enthusiasm about the partnership, stating, "We see incredible opportunity for our brands Better Than Bouillon® and The Original Louisiana Hot Sauce™ in addition to our custom bases and sauces business. EagleTree's partnership will empower us to accelerate our growth and innovation, expand our market reach and continue providing high-quality products to our customers."

George L. Majoros, Jr., Co-Managing Partner at EagleTree, expressed his excitement about welcoming Summit Hill Foods to the firm's portfolio. He emphasized the exceptional track record of Summit Hill Foods and the unique value of the acquired brands. EagleTree is poised to work closely with Summit Hill Foods' management team to drive further growth and success.

EagleTree's acquisition aligns with its strategy to invest in high-potential companies with a strong market presence. The company's partner, Stuart Martin, highlighted Summit Hill Foods' unique culture and core values, which include valuing employees, community involvement, commitment to safety, and the pursuit of excellence. EagleTree recognizes the importance of these values in the company's success and pledges to uphold them during the next phase of growth.

Linda Owens, Chairwoman of G&L Holdings, the parent company of Summit Hill Foods, expressed confidence in the future growth of the company under the ownership of EagleTree Capital. She commended the employees for their dedication and assured them of a bright future ahead.

The acquisition process involved the expertise of various firms. BofA Securities acted as the exclusive financial advisor for Summit Hill Foods, while Eversheds Sutherland provided legal advisory services. Deloitte offered financial and tax advisory support. BDT & MSD Partners acted as special advisors to G&L Holdings' Board of Directors and shareholders. Jones Day provided legal advisory services to EagleTree, and Alvarez & Marsal conducted due diligence.

Summit Hill Foods is not just a retail-oriented company; it is also a flavor-first solution provider and trusted ingredient supplier to foodservice distributors, manufacturers, and restaurants. Its commitment to quality and innovation sets it apart in the industry.

EagleTree Capital, with over $5.6 billion of assets under management, is known for its successful investments in middle-market companies. With a focus on media and business services, consumer goods, and water and specialty industrial sectors, EagleTree has a strong track record of generating value for its portfolio companies.

The acquisition of Summit Hill Foods by EagleTree Capital reflects the firm's commitment to expanding its presence in the food industry. The addition of the Better Than Bouillon® and The Original Louisiana Hot Sauce™ brands further enhances EagleTree's portfolio and positions the company for continued growth and success.

To learn more about Summit Hill Foods and its range of premium brands, visit their website at www.SHFoods.com.

For further information about EagleTree Capital and its portfolio, visit www.eagletree.com.