H.I.G. Capital Announces Acquisition of Albertville Quality Foods and Southern Quality Meats
Investment Supports Expansion of National Further Processing Services Provider to the U.S. Foodservice and Restaurant Industries
H.I.G. Capital, LLC, a leading global private equity investment firm, today announced that an affiliate has acquired Albertville Quality Foods (“AQF”) and Southern Quality Meats (“SQM”). AQF and SQM provide specialized further processing services for protein-based products.
“We are pleased to work with H.I.G. to leverage their experience growing service-oriented businesses”
The companies specialize in poultry and pork based products, and focus on complex, quick turnaround runs that meet the stringent specifications of its restaurant, foodservice and retail customers. Superior product quality, industry expertise, and strong customer partnerships have supported high service levels and the ability to develop products to meet customized specifications. The Alabama facility focuses on outsourced third-party processing, primarily of chicken-based products. The Mississippi plant is a fully-integrated pork sausage processing operation. AQF and SQM have strong manufacturing capabilities, significant infrastructure and a long track record of success, making them a highly attractive platform investment for H.I.G.
H.I.G. teamed with senior management to consummate the transaction. "We are pleased to work with H.I.G. to leverage their experience growing service-oriented businesses," said Don Haynie, Chief Executive Officer of AQF and SQM. "The recapitalization of our companies allows us to continue growing our customer base and expanding our facilities. This investment supports our industry-leading ability to provide specialized and custom products to our customers with the highest level of quality and service.”
"We are excited about the growth prospects of these businesses and intend to actively support them as they build on their well-deserved reputation," said Richard Stokes of H.I.G. Capital. "We have great confidence in the management team as operators, and believe that H.I.G.’s investment will facilitate and expedite our collective goal of making AQF and SQM the top providers of further processing services nationwide."
