Tag Archives: Roland Foods

Roland Extra Virgin Olive Oil Receives Quality Seal

Roland® Extra Virgin Olive Oil packed in Italy has received the North American Olive Oil Association (NAOOA) Certified Quality Seal. Roland® Extra Virgin Olive Oil is packed in Italy and has a perfect green-gold color, clean aroma, and smooth flavor.

The NAOOA Seal indicates a high quality olive oil that is frequently tested by a sensory panel and meets even more rigorous standards than what is required by the United States government. To receive the seal, samples of Roland Extra Virgin Olive Oil are taken directly from the marketplace for analysis. Receiving the seal indicates that the product tested meets or exceeds the International Olive Council (IOC) standards. For more than 50 years, the IOC has been recognized as the worldwide quality-standard-setting body for the olive oil industry and its standard is the basis for the newly implemented USDA standard.

Advertisements

Vestar Acquires Roland Foods

American Roland Food Corp. and Vestar Capital Partners today announced that Vestar Capital Partners VI, L.P. has signed a definitive agreement to acquire a majority interest in the Roland Foods family of companies, including Bruno Scheidt, Inc., American Roland Food Corp., Pro Warehouse Corp., and Costamar Corp.  Terms were not disclosed.  The transaction is expected to close by the end of September.

Roland Foods is a recognized leader in the imported specialty foods business in the U.S. and around the globe.  “My parents started Roland Foods in the U.S. nearly 75 years ago, and the company has grown consistently over the years with the help of our valued customers, suppliers, and staff,” said Charles E. Scheidt, a member of the company’s founding family and CEO of Roland Foods.  “Vestar appreciates and shares our values, as well as our company’s single-minded focus on our brands, quality products, and exceptional and reliable customer service.  This evolution enables Roland Foods to build on its excellent foundation.”

“Roland Foods is a great company with a unique niche and superb reputation in the industry, and an exceptional initial investment for our new Vestar VI fund,” said Dan O’Connell, Founder and CEO of Vestar.  “Roland Foods is not only performing extremely well but also has impressive potential.  Coupled with the bright growth outlook we see in the specialty foods sector, we believe Vestar’s resources and experience in the food and branded products arena can help Roland Foods grow substantially.”

The management team and staff will remain in place.  Charlie Scheidt will continue as CEO and Chairman of the Board and will retain a meaningful investment in the company.  The company anticipates that a new CEO will be named in the coming year.  Roland Foods expects a seamless transition for the suppliers, vendors, and customers, with continuity, stability, and growth being top priorities.

Wells Fargo Securities, LLC acted as the M&A advisor to Vestar in this transaction.  Financing for the transaction was provided by BMO Capital Markets and GE Capital Markets.  Vestar’s legal advisor was Kirkland & Ellis LLP.

Evercore Partners served as financial advisor to American Roland Food Corp. and McDermott Will & Emery LLP served as legal advisor.