News

Affiliate of Sun Capital Partners, Inc. Sells Elan Nutrition, Private Label Manufacturer of Nutrition Food Bars, to Conagra Foods

BOCA RATON, FL Sun Capital Partners, Inc. (“Sun Capital”), a private investment firm specializing in leveraged buyouts and investments in market?leading companies, today announced that one of its affiliated portfolio companies, Elan Nutrition, has been purchased by ConAgra Foods, Inc., NYSE: CAG, one of North America?s leading food companies.

Headquartered in Grand Rapids, Mich., Elan Nutrition is a market leading contract developer and manufacturer of nutritional bars serving the health and wellness, meal replacement, sports nutrition, energy bar, and nutraceuticals markets. Elan Nutrition operates a 230,000 square foot facility in Grand Rapids where it manufactures some of the most well known nutrition bars in the industry.

Matthew Garff, Managing Director at Sun Capital, said “We are very pleased with Elan Nutrition?s growth trajectory since acquiring the business in May 2003, and greatly enjoyed working with its capable management team to develop the Company into the market leader it is today. Elan was successful in expanding its customer base, in part due to a creative product development team, and combining that growth with carefully monitoring and improving their production efficiency. As a result of these focused efforts, since 2003, company revenues have more than doubled with an even more impressive EBITDA expansion.”

Sun Capital Partners brings deep operational expertise and industry experience to developing companies in the food and beverage sectors, including such companies as CanGro Foods, Creekstone Farms Premium Beef, and Sunrise Growers~Frozsun Foods.

About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in?house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 220 companies worldwide with combined sales in excess of $40 billion since Sun Capital?s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com

CONTACT INFORMATION:
Katrin Lieberwirth
Stanton Public Relations & Marketing
(646) 502?3548
klieberwirth@stantonprm.com