Food Industry
Industry: Email Alert RSS FeedPrivate equity firm Thomas H Lee Partners has announced that it has agreed to buy Minnesota-based food processor and distributor Michael Foods for around $1.05 billion
Food & Drink Weekly, Oct 20, 2003
Private equity firm Thomas H Lee Partners has announced that it has agreed to buy Minnesota-based food processor and distributor Michael Foods for around $1.05 billion. Thomas Lee said it would buy Michael Foods, in partnership with management, from buyout firms Vestar Capital Partners and Goldner Hawn Johnson & Morrison and the founding Michael family.
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Michael Foods processes and distributes foodservice and retail brands including Simply Potatoes, Better 'N Eggs and Diner's Choice, and had 2002 net sales of over $1.1 billion. The current owners of Michael Foods took the company private in April 2001 for around $800 million, reported the New York Times.
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