Article |

Ryt-way, Hearthside merger creates $1-plus billion food/CPG contract service provider

Consolidated companies, owned by Wind Point Partners, expands services across 19 U.S. manufacturing and packaging sites.
In June, two contract service providers—manufacturer Hearthside Food Solutions and co-packer Ryt-way Industries—became one corporate entity under the ownership of Chicago-based private equity firm Wind Point Partners

Wind Point acquired Hearthside in 2009 and Ryt-way in 2008. The company said in May that the merger would create a leading North American contract food and consumer packaged goods manufacturer-packager with more than $1 billion in sales and 19 manufacturing facilities across seven states. 
 
"The combined company will be not only significantly larger but also able to deliver a wider array of services,” said Rich Scalise, CEO of Hearthside and now the combined entity. Scalise is a 35-year food industry veteran with experience at Ralcorp Frozen Bakery Products and ConAgra Foods, is CEO for the combined business. Ryt-Way CEO David Finch added that the merger presents a "great opportunity" for customers owing to "a broader suite of capabilities" and "a one-stop shop for contract manufacturing.”
 
Mark Burgett, a managing director at Wind Point, added that the merger presents "significant growth opportunities
ADVERTISEMENT
for the business in addition to value for our investors. Given the similarities between the businesses, we expect to start realizing benefits immediately.” 
 
Since its founding in 1984, Wind Point has raised more than $2.8 billion in commitments, acquired more than 90 core "platform" companies and 160 "add-on" acquisitions. Current investments are ongoing, based on a $915 million fund closed in April 2009.
 
Separately in June, Wind Point acquired Greenfield, MA-based Argotec, a maker of specialty polyurethane film and sheet with unique properties for niche applications including surface protection and impact resistant glass, among others. It will serve as a new platform company into which additional "add on" companies would be merged. 

Comments(0)

Add new comment

E-BOOK SPECIAL REPORT
42 Best Package Designs: 2014 edition
Sign up to receive timely updates from our editors and download this e-book consisting of our editors' picks of most notable package designs. Updated for 2014!
x

 

Newsletters
Don’t miss intelligence crucial to your job and business!
Click on any newsletter to view a sample. Enter your email address below to sign up!
GENERAL INTEREST

New Issue Alert

Packaging World Magazine

eClip

Breaking packaging news

Packaging Insights

Pertinent packaging issues

PACKAGE DESIGN/
DEVELOPMENT

Greener Package

Sustainable packaging

Shelf Impact

Package design strategies

Each newsletter ranges in frequency from once per month to a few times per month at most.