The acquisition includes the Lightlife manufacturing facility in Turner Falls, Mass. Brynwood's newly formed Lightlife Foods, a portfolio company, will have headquarters in Boston. The manufacturing facility will remain in Turner Falls, according to Brynwood Partners.
"We are pleased to announce the acquisition of Lightlife and its manufacturing facility from ConAgra Foods," said Henk Hartong III, senior managing partner, Brynwood VI. "Lightlife is a well-known brand with excellent nutritional and wellness attributes. Lightlife has a very loyal consumer following and customer base. We look forward to investing in Lightlife Foods and extending the company's refrigerated and frozen meatless offerings."
Roy Lubetkin is president and CEO and Michael Morin will serve as CFO of the company, the company reported. Lubetkin served as CEO of Sun Country Foods, Inc., a successful Brynwood VI portfolio company, before joining Lightlife Foods. He was also CEO of Backyard Farms, LLC. Morin most recently served as CFO of Sun Country Foods and before that was CFO of Richelieu Foods, Inc. Sun Country Foods and Richelieu Foods were divested in 2012 and 2010, respectively.
Brynwood Partners is a private equity fund with more than $500 million in private equity capital under its management.