Private Equity Deals with Capital Allocators Hometown Food Company – Henk Hartong III (Brynwood Partners), (S3.EP.07)
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Nov 29, 2023 Henk Hartong III, Chairman and CEO of Brynwood Partners, discusses the creation and performance of Hometown Food Company, the impact of COVID-19, tuck-in acquisitions, expansion of the Funfetti brand, marketing shifts, digitalization, acquisition strategies in the food industry, navigating COVID-19 challenges, and decision-making during uncertain times.
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Hometown Food Company's Origins
- Hometown Food Company began by acquiring Smucker's baking and dessert mix businesses.
- This included brands like Pillsbury, Funfetti, Martha White, and Hungry Jack.
Smucker's Divestiture
- Smucker's divested the baking business to focus on its core coffee and pet food sectors.
- This presented an opportunity for Brynwood Partners.
Carve-Out Opportunities
- Focus on carve-outs, as they offer opportunities to apply operational expertise.
- Identify areas neglected by previous owners and develop quick fixes.