Entrepreneurial Equity Partners Portfolio Company Roskam Baking Company Acquires Marsan Foods

Entrepreneurial Equity Partners (“e2p”), a Chicago-based private equity firm focused on the food and consumer packaged goods industries, announced today that Roskam Baking Company (“Roskam”), one of its portfolio companies, has acquired Marsan Foods (“Marsan” or the “Company”). Marsan represents Roskam’s second acquisition since being acquired by e2p in July 2022. Financial terms of the transaction were not disclosed.

Founded in 1969 by Ken Jewett, Marsan is a manufacturer of frozen entrees and soups utilizing approximately ~145K square feet of workspace across three facilities. The combination of Roskam and Marsan offers increased size and scale for both companies in the United States and Canada and creates a truly diversified frozen product portfolio. The combined platform will be well-positioned to continue to grow organically and through additional acquisitions. Marsan is headquartered in Scarborough, Canada, and employs a workforce of approximately ~200 employees.

Founded in 1923 and headquartered in Grand Rapids, Michigan, Roskam is a contract manufacturer that supports many of America’s most iconic food brands and companies. Roskam is a large-scale, diversified bakery operation with over two million square feet of manufacturing, warehouse, and office space across six facilities.  Roskam has the ability to produce an extremely diverse set of frozen, refrigerated, and shelf-stable food products. Roskam also has the ability to handle allergens such as peanuts and dairy as well as special product types, including gluten-free and non-GMO, all in a safe and controlled environment.

“Roskam has made extensive progress in executing its growth strategies since our initial investment, and the acquisition of Marsan Foods is an important next step in the execution of our business transformation plan,” said e2p Managing Partner, Mark Burgett. “The partnership with Marsan is a highly strategic opportunity to expand Roskam’s geographical footprint in the U.S. and Canada while leveraging a broader set of product capabilities. We’ve been investing in contract manufacturing and private label for years, and our goal is to develop deeper and broader relationships with both existing and new customers in order to help them grow their businesses. For over 50 years, the Jewett Family has successfully pioneered the frozen entrees and soups market. We are thrilled to be working with them and the entire team at Marsan.”

Miguel Moreno, CEO of Roskam Baking Company, said, “Marsan, with its strong position in the frozen entrée market, is a strong strategic fit for Roskam as we look to scale our business in categories that are growing and strategic to our customer base. We believe the combination of Marsan with Roskam creates a truly diversified product portfolio with capabilities spanning frozen apps and entrees, snacks & confections, frozen bakery and beyond. We look forward to working with the Marsan team and are excited about the opportunities that lie ahead.”

Graeme Jewett, Marsan Foods’ President, commented, “We are excited to partner with both Roskam and e2p. They specialize in partnering with family businesses and understand our categories and channels extremely well.  I am confident that this partnership will meaningfully benefit our customers, employees and community.”