Private brand sauces and condiments manufacturer Golding Farms Foods announced today that private equity firm Centre Partners has made an investment in the manufacturer. Financial terms of the transaction were not disclosed.
Founded in 1972 by Tony Golding and based in Winston-Salem, North Carolina, Golding Farms maintains a best-in-class, SQF level 3-certified facility with highly efficient processing and packaging capabilities. The Company serves a wide range of end markets with product categories including Asian sauces, honeys, aiolis, steak sauces, syrups, Worcestershire sauces and relishes.
John Frostad, an entrepreneur and executive with over 30 years of experience in the private label and branded packaged food industry, will join the Golding Farms team as CEO. Mr. Frostad previously founded and served as President and CEO of Snack Alliance, a leading private label snack food manufacturer.
“Golding Farms has a 45-year history of providing excellent products and service to its retail grocery partners through its dedicated employees, impressive product development and innovation capabilities, and highly efficient manufacturing operation with leading food safety industry certifications,” stated David Jaffe, a Managing Partner of Centre Partners. “Golding Farms represents an opportunity for us to invest in a high growth food business and accelerate growth further with additional management resources and investment capital.”
“I am pleased to welcome Centre Partners and John Frostad to the Golding Farms family,” stated Mr. Golding. “I am excited for this new partnership and look forward to a bright future.”
“Golding Farms is a special company with long-standing relationships and commitments to its customers, suppliers and employees, as well as the Winston-Salem community,” added Mr. Frostad. “I look forward to working with each of these constituents to grow Golding Farms in the coming years.”