Swiss food company The Hero Group has sold its food decoration business Signature Brands to Traub Capital for an undisclosed price.
The sale is said to be in line with the group’s strategy to focus on its core categories, namely baby and toddler food, healthy snacks, natural spreads and gluten-free products.
Traub Capital managing partner Brian Crosby said: “We appreciate Hero’s stewardship over the years, and we are very excited to partner with Signature Brand’s management team to continue building its great business and brands.”
Hero Group CEO Rob Versloot said: “We are very happy to have found a new home for Signature Brands with Traub, a company with an excellent track record and the necessary industry expertise to take Signature Brands to the next level.”
Established in 1886 in Switzerland, Hero Group focuses on branded nutritional food products. The company’s net sales increased 3.5% and generated revenues of Sfr1.28bn ($1.27bn) last year.
Financial advisors Rothschild & Co and PJ Solomon, as well as law firm Ropes & Gray, supported The Hero Group, while Traub Capital was represented by law firm Lowenstein Sandler and assisted by financial adviser B. Riley FBR.
Traub Capital is a strategic investment group that specialises in the consumer sector, including the CPG, food and beverage, lifestyle brands, and speciality retail sectors.
