Stonewall Kitchen has partnered with investment firm Centre Partners to help strategically grow its business, and has a new CEO sitting at the helm.
The investment firm – with more than $2 billion in transactions – will support Stonewall Kitchen’s growth plans and provide expertise along the way, according to media reports. As part of the deal, Centre Partners’ John Stiker was named CEO.
“Stonewall Kitchen wanted a partner that could provide strategic support in helping to achieve its fullest growth potential,” said Janine Somers, director of marketing of Stonewall Kitchen, known for its jams and jellies, condiments, pancake and waffle mixes, and a wide array of other specialty foods. “We’re excited to have a partner that loves our brand and allows us to maintain our quality as a premium brand.”
York, Maine-based Stonewall Kitchen was founded 25 years ago with a single jam recipe by Jim Stott and Jonathan King. The company now has hundreds of products, 11 retail stores, more than 6,000 wholesale accounts and a strong Internet business. The company hopes to expand its U.S. business base and grow internationally as well.
Stiker’s past food business experience includes leadership positions at Bumble Bee Foods and Distant Lands Coffee. As part of the reorganization, King will remain chief creative officer; Stott, who has been semi-retired, will retire fully; Lori King was promoted to president; and Natalie King will remain executive vice president. As part of its growth plans, Stonewall Kitchen said it expects to add to its current 300-plus workforce in the future.
