TowerBrook Capital Partners LP made a strategic investment in KeHE Distributors LLC, replacing a longtime minority shareholder in the food distributor.
The arrangement, financial terms of which were not disclosed, allows KeHE to maintain its majority employee stock ownership.
TowerBrook, which targets control-oriented private equity investments in large and middle-market companies, also committed additional capital for future growth.
BMO Capital Markets was the exclusive financial adviser to KeHE, while Winston & Strawn LLP provided legal guidance to complete the agreement. Kirkland & Ellis LLP offered legal counsel to TowerBrook.