Audax Management Co. LLC, also known as Audax Private Equity, bought a controlling stake in Stonewall Kitchen LLC.
Centre Partners Management LLC sold the York, Maine-headquartered specialty food products company.
The acquisition consists of the flagship namesake brand; the Tillen Farms brand of pickled vegetables and cocktail cherries; the Napa Valley Naturals brand of olive oils, culinary oils, balsamic vinegars and wine vinegars; the Montebello brand of organic Italian pasta; and the Legal Sea Foods brand of seafood sauces and condiments.
The company, which will focus on its acquisition efforts, will continue to be led by its current management with John Stiker as CEO, Lori King as president and COO and Natalie King as executive vice president.
Baird was the exclusive financial adviser to Stonewall Kitchen, while Greenberg Traurig LLP was its legal adviser.
Kirkland & Ellis LLP served as legal adviser to Audax, while Sawaya Partners and Lazard provided buy-side support.