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Archer Foodservice Partners to Acquire Sterno Foodservice Business

  • Archer Foodservice Partners signed a definitive agreement to acquire the foodservice business of SternoCandleLamp Holdings from Compass Diversified.
  • Wynnchurch Capital, L.P. led the transaction as the private equity firm for Archer.
  • Sterno, headquartered in Texarkana, TX, is a leading provider of portable food-warming & tabletop solutions with over 240 employees.
  • The acquired business operates two primary converting sites in Texarkana, TX & Memphis, TN.
  • Sterno produces the majority of its products in-house at facilities in Texarkana, Memphis, & La Porte, IN.
  • Joe Kubicek, CEO of Archer, stated the acquisition adds an iconic brand to Archer's portfolio including Handgards, Inno-Pak, & Fineline Settings.
  • The transaction is subject to customary closing conditions & is expected to close in the coming months.
  • Foley & Lardner LLP provided legal advice to Archer & Wynnchurch.
  • Archer operates 14 facilities with over 1.5 million square feet of space & ships over 25 million cases annually.
  • Wynnchurch Capital manages $9.1 billion in assets & specializes in corporate carve-outs & growth capital strategies.