HIG Capital’s portfolio company Albertville Quality Foods, Inc (AQF) has acquired Sunrise Foods, LLC (Sunrise), a processor of protein-based products.
The Sunrise operation is highly complementary to AQF’s operation and will add over $100 million in additional revenues to the combined company. Like AQF, Sunrise’s value-added customized products are prepared to customers’ specific recipes.
The acquisition of Sunrise, based in Albertville, Alabama, significantly expands the profile and capabilities of AQF. The combined company will service a marquee list of foodservice, restaurant, and retail customers through its operation of three facilities and eight state-of-the art production lines.
AQF is also pleased to announce that Jerry Wilson has joined the company as CEO to lead the combined business. Wilson brings several decades of industry experience to the role, most recently acting as EVP for Pilgrim’s Pride. “I am tremendously excited to join this operation. This acquisition will increase our production capabilities and will provide even more exceptional products to our valued customers,” he says.
As part of the transaction, Joseph Blancato, CEO of Sunrise, will join the board.
“Joining forces with AQF provides Sunrise significant additional strategic, operational, and financial resources that will greatly benefit our customers and employees,” says Blancato. “We are excited to now become one of the largest pure-play poultry further processors in the nation.”
“This acquisition is the culmination of efforts to establish a leading position in the protein further processing sector. We are very excited about the growth prospects of the combined company,” says Richard Stokes of HIG Capital. “We have great confidence in the management team running the operations. We intend to continue to actively support the company as it builds on its well-deserved reputation for superior quality and excellent customer service.”
