Private equity firm American Capital has invested $31.5m to support the acquisition deal of Teasdale Foods by Snow Phipps Group that happened in October this year.
Teasdale Foods offers private label and branded bean and hominy products to the retail, food service, and wholesale channels.
American Capital managing director and head of sponsor finance Ryan Brauns said: "Teasdale is a recognized industry leader and the largest provider of both conventional store brand and organic store brand beans in the US, serving a large diversified customer base throughout the retail, foodservice and industrial channels.
"This is our first time supporting a new Snow Phipps platform investment and we're delighted to partner with them in this business."
Last month, GE Antares Capital announced its decision to serve as administrative agent on a $104m senior secured credit facility to support this acquisition process.
Snow Phipps, with $1.5 billion of assets, is a private equity firm focused on middle-market control investments.
