Wind Point Partners and portfolio company Stir Foods and Pacifica Foods, a custom manufacturer of soups, sauces, dressings, and fresh salsas for both retail and foodservice customers, announced that Stir-Pacifica has acquired Sabra Dipping Company's salsa business ("Sabra Salsa") based in Oceanside, Calif. The acquisition includes the Santa Barbara and Chachies brands, which will continue to be produced at the Oceanside facility, and the Sabra brand salsa, which will be phased out.
The acquisition of the Sabra Salsa business, including the SQF Level 2 Oceanside manufacturing facility and strong workforce, enhances the Company's salsa manufacturing capabilities and adds capacity to support the continued growth of Stir-Pacifica.
Wind Point Partners acquired Stir-Pacifica in December of 2017 in partnership with Milt Liu, a more than 20-year veteran of the food industry. In cooperation with Milt and management of Stir-Pacifica and Sabra Salsa, Wind Point will seek to continue growing the Stir-Pacifica platform through a combination of organic growth and innovation, as well as additional complementary acquisitions like Sabra Salsa.
BMO Harris Bank N.A. and Antares Capital led financing for the transaction. Reed Smith served as legal counsel to Wind Point. Corporate Fuel Advisors served as financial advisor and Hunton Andrews Kurth served as legal counsel to Sabra.
Stir Foods, Pacifica Foods Acquire Sabra's Salsa Business
The acquisition includes the Santa Barbara and Chachies brands, which will continue to be produced a facility in Oceanside, Calif.
