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    Home»Deals»New Water Capital sells fresh, prepared foods manufacturer CMM
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    New Water Capital sells fresh, prepared foods manufacturer CMM

    May 11, 20212 Mins Read
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    New Water Capital (New Water), a lower-middle market private equity firm, has sold Custom Made Meals (CMM), a leading US provider of fresh, handmade, oven-ready entrees, appetisers and sides for grocery retailers, to middle-market private equity firm Stellex Capital Management.

    “Our goal at New Water is to support and invest in businesses with enduring value propositions,” says New Water Capital partner Jason Neimark. “We are very proud of CMM’s success, and we have every confidence the company will continue its remarkable growth trajectory and success under its new ownership.”

    “As consumer demand for fresh, ready-to-cook foods has skyrocketed in recent years, the CMM team’s creative expertise, skilled management and established relationships within the industry have positioned the company, with New Water’s operational leadership and support, as a leading contender in the US marketplace,” says CMM President and CEO Dale Easdon. “The entire CMM team is excited to be part of this next stage in the company’s success.”

    New Water Capital acquired CMM in 2017 as a part of a broader thesis that identified significant growth in the fresh food category, in particular for companies like CMM that were providing a meaningful value proposition to both the retail customer and the end consumer. During its partnership with New Water, CMM invested in the leadership team, manufacturing infrastructure and automation technologies to significantly expand capacity, streamline the supply chain and scale the business. In its four years as a New Water Capital company, CMM expanded its US customer base from approximately 6,000 grocery retail locations to currently serving more than 15,000 retailer locations nationwide with unrivalled product SKU breadth, depth and complexity.

    Read more/Source: Private Equity Wire

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