Hometown Food Company is welcoming a portfolio of brands from J.M. Smucker Company, including the exclusive U.S. rights to the Pillsbury® branded shelf-stable baking and dessert products and the use of the iconic Pillsbury Doughboy in the categories for $375 million. Other brands included in the acquisition are Funfetti®, Hungry Jack®, White Lily®, Jim Dandy®, and Martha White®. Homefoods is headquartered in Chicago, IL, and will operate its 650,000-square-foot manufacturing facility in Toledo, OH.
In addition to the company’s exciting acquisition of these brands, Hometown Foods hired Daniel Butler as its President and CEO. Butler’s most recent role was that of President and CEO of Wilton Brands. Before that, Butler worked at Kraft Foods for 17 years, where he worked in senior-level sales, marketing, and general management positions.
According to a press release, Tim Young, David Meltzer, and Dan Anglemyer will also be joining the Hometown Foods team as its CFO, EVP of Sales, and Chief Marketing Officer, respectively. Young was most recently with Treehouse Foods; Meltzer was with Richelieu Foods; and Anglemyer was with Back to Nature Foods Company.
"We are pleased to announce the closing of the Hometown Foods transaction and the hiring of an exceptional and experienced executive management team," said Henk Hartong III, Chairman and CEO of Brynwood Partners. "We are excited to have a very talented management team in place at the closing and will be off to a fast start with the new company. We are looking forward to working closely with Dan and his team to bring focus and energy to this business and to execute on our strategy to grow these great brands in the years to come. Additionally, as we have done so successfully in past portfolio company investments, we will aggressively seek to identify and make add-on acquisitions where they fit our strategy."
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