December 2, 2010
Ryt-way Industries Acquires Robert's Packaging
Wind Point Partners is pleased to announce that portfolio company Ryt-way Industries has acquired Robert’s Packaging, Inc. of Battle Creek, Michigan.
Ryt-way, based in Lakeville, Minn., is a leading contract packager of dry food products such as ready-to-eat cereals, prepared meals, side dishes, beverages and sweeteners and a designer and manufacturer of high-speed packaging equipment. Wind Point acquired Ryt-way in August 2008 in partnership with CEO David Finch and Chairman George Bayly.
Robert’s Packaging, Inc. manufactures high-speed, stand-up pouch equipment. Robert’s is the second acquisition completed by Ryt-way this year. In June, Ryt-way acquired the food and beverage and equipment and manufacturing businesses of Cloud Packaging Solutions, including Cloud Packaging Services, Cloud Equipment Company and Toll Packaging Services.
The addition of Robert’s further strengthens Ryt-way’s leadership position as a premier provider of contract packaging and technology solutions for North America’s leading consumer packaged goods companies. Robert’s stand-up pouch equipment technology is a great complement to Ryt-way’s equipment technologies.
Mark Burgett, a Wind Point managing director, commented, “We are excited about another highly complementary acquisition for Ryt-way. Through these acquisitions, we are adding new capabilities for our customers and creating excellent growth opportunities.”
“Robert’s has long-standing customer relationships and an excellent reputation for quality, innovation and service,” said Finch, whose previous experience includes Group Vice President of Johnsonville Sausage. “We are very excited about adding Robert’s capabilities into the Ryt-way family in order to provide an expanding portfolio of high-speed packaging solutions for our customers.”
Senior debt for the transaction was provided by CIT Sponsor Finance. LarsonAllen LLP served as transaction advisor. Legal counsel for Wind Point on the transaction was Kaye Scholer, LLP.