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Forward Consumer Partners takes 50% stake in tortilla and salsa biz; Alpine’s Mark Strauch on CEO programs

Morning Hubsters, Craig McGlashan here with the Tuesday Wire.

We open with Forward Consumer Partners taking a stake in tortilla chips and salsa producer Xochitl, as we hear from the private equity firm’s founder Matt Leeds about the rationale behind the deal.

Next, Mark Strauch of Alpine Investors becomes the latest alumnus of our Dealmakers to Watch series as he talks about his firm’s programs such as CEO-in-training and CEO-in-residency as well as his time in private equity, the secondaries market and his outlook for dealmaking.

Finally, we feature GHK Capital Partners selling its portfolio company Supreme Cabinetry Brands. We’ve got thevaluation on that exit for you.

‘Little gem’

Earlier this morning, PE Hub’s Rafael Canton broke the news that private equity firm Forward Consumer Partners has taken a stake in Xochitl, a tortilla chips and salsa producer based in Irving, Texas.

Find out the size of the stake and rationale behind the deal from Forward founder Matt Leeds in the subscriber version of the Wire.

CEO programs

PE Hub profiled Matt Leeds in February for our Dealmakers to Watch series. Today, we have a new entry for you, as Obey Martin Manayitiinterviews Mark Strauch,co-founder of Alpine Investors, who became the private equity firm’s first president in March.

Read more in the subscriber version of the Wire.

Crafting the deal

While Alpine has focused on home restoration generally, GHK Capital Partners has been busy with a business that feeds into that sector: Supreme Cabinetry Brands, a cabinetry company with manufacturing facilities in Minnesota, Iowa and North Carolina.

Find out details on GHK’s exit from the business, including the valuation, in the full version of the Wire.

OK that’s all from me today – Chris Witkowsky will be on duty tomorrow.

Cheers,

Craig

Read the full Wire commentary on PE Hub ...

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They said it

“It’s about finding great people that you can build together with and that you can generate a lot of trust with to make great decisions and to move fast. It is a 50/50 true partnership deal.”

— Matt Leeds, founder and managing partner, Forward Consumer Partners, on the investment in Xochitl