Investment fund to acquire Illinois processor
Dec. 16, 2014
by Erica Shaffer
|Ruprecht Company was established in 1860.
MUNDELEIN, Ill. – New Hope Investment Fund announced the company reached an agreement to acquire Ruprecht Company, Chicago's oldest operating beef processor. New Hope, a private equity fund managed by Hosen Capital, is the major shareholder of Kilcoy Pastoral Company (KPC).
“We are truly excited by this opportunity to join a global protein leader like Kilcoy,” said Walter Sommers, president of Ruprecht. “We now have access to a superior and consistent supply of premier quality beef and lamb products, enabling us to better serve our existing customers and expand our business with additional product offerings.
“Our entire management team and myself will continue to manage and expand Ruprecht’s business,” Sommers added. “Supported and empowered by our new board, we are firmly committed to build on our existing strength of innovative products and contribute to the success of our global group.”
Established in 1860, Ruprecht Company is a privately held meat processor and food manufacturer serving domestic and international foodservice and retail customers, according to the company's website. Ruprecht has experienced rapid expansion and growth due over the last 10 years. The company made significant investments in research and development to expand its focus to fully cooked meal solutions, side dishes, and other value-add raw items.
“Ruprecht is a leading supplier of value-added protein products,” said Alex T. Zhang, chairman of KPC Group and Partner of Hosen Capital. “We plan to support Ruprecht with superior supply and additional investments, to solidify its competitive position, and to grow its product offering and market positions.”