US-based speciality food importer Roland Foods has completed the acquisition of Albert Uster Imports (AUI) for an undisclosed sum.
Based in Gaithersburg, Maryland, AUI has been importing speciality pastry, bakery and confectionery products and supplying them to professional chefs and bakers for the last 50 years.
AUI CEO Philipp Braun said: “AUI and Roland Foods have much in common as global leaders in the imported speciality foods niche.”
“However, there is little product overlap and each company brings complementary products and services to the combination. The resources and expertise that AUI can now tap through Roland Foods will accelerate our ambitious plans for both product and customer expansion.”
Based in New York City, US, Roland Foods is a portfolio company of middle-market private equity firm Vestar Capital Partners, which specialises in management buyouts and growth capital investments.
Roland Foods imports speciality food products and offers over 1,500 globally sourced SKUs to North American and international food service, retail and industrial customers. It also has international sales in the Caribbean, Central and South America, Asia, Africa and the Middle East.
For this deal, Kirkland & Ellis served as legal counsel and SunTrust Robinson Humphrey as financial advisor to Roland Foods and Vestar.
Legal counsel for AUI was provided by Arnold & Porter.
Roland Foods CEO James Wagner said: “The acquisition of AUI establishes Roland Foods as a leading platform within the speciality foods landscape.
“This acquisition doubles Roland Foods’ portfolio of unique, hard-to-source speciality products, increases our presence in the growing pastry and confections product lines, and offers us entry into the frozen and refrigerated categories.”
