Firm sinks $43 million into Future Food buyout
Jul 29, 2004 11:49 AM, from staff and wire reports
American Capital Strategies Ltd has invested $43 million in the buyout of Future Food LP, a producer and marketer of refrigerated dips, spreads, and seafood salads, from Transition Capital Partners and Private Equity Partners.
Texas Capital Bank, a subsidiary of Texas Capital Bancshares, is providing a revolving credit facility and a senior term loan. Future Food management is also investing in the common stock. American Capital owns about 99% of Future Food on a fully diluted basis.
Founded in 1984, Carrolton TX-based Future Food product lines are distributed throughout 45 states to grocery retailers, club stores, and mass merchandisers.
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