H.I.G. Capital has divested its portfolio company Albertville Quality Foods to OK Foods, a subsidiary of Industrias Bachoco.
Albertville is among the largest independent further processors of protein based products. The Company focuses on the development and production of customized center of the plate products that meet the demanding specifications of national and regional restaurant chains and other foodservice channels. The Company operates two facilities in Albertville, AL.
H.I.G. acquired Albertville in 2010 and subsequently completed the strategic add-on acquisition of Sunrise Foods in 2012. Through H.I.G.’s partnership with Albertville’s leadership team, the Company made significant improvements in both operations and sales.
During H.I.G.’s investment period, Albertville established a sophisticated sourcing model and implemented significant facility improvement projects to increase operational performance and expand capacity. Furthermore, the Company has formed entrenched partnerships with several leading restaurants and retailers.
“We are proud to have partnered with the Albertville management team during this critical phase of growth for the Company,” commented Richard Stokes, a Managing Director of H.I.G. Capital.
“Through substantial investment in people, products and facilities, Albertville has developed into a market leader in the areas of innovation, quality and food safety. We look forward to seeing Albertville continue its successful growth trajectory with OK Foods.”
