Thursday August 30, 2012
Shearer’s Foods Is Sold
Chicago — Shearer’s Foods, Inc. has been acquired by Wind Point Partners, a private equity firm, in a transaction expected to close in October.
The firm says C.J. Fraleigh has been appointed chairman and CEO. He most recently was CEO of Sara Lee — North America and has 25 years experience in CPG.
Fraleigh says: “With the growth of private label brands and the trend toward outsourcing for branded food companies, Shearer’s is well positioned to continue its historical growth trajectory.”
Mark Burgett, of Wind Point Partners, says: “We are confident that we will create value through initiatives such as introducing a proactive strategic selling effort, leveraging Shearer’s proven ability to innovate and implementing continuous improvement programs.”