Arbor Investments (“Arbor”), a specialized private equity firm that focuses exclusively on investing in food, beverage and related industries announced today the sale of Concord Foods ("Concord" or the "Company") to Sugar Foods, a food company serving prominent foodservice, grocery, retail and restaurant brands. Founded in 1968 and headquartered in Brockton, Massachusetts, Concord is a leading diversified flavor and ingredients company supplying custom value-added ingredients, syrups, sauces, and mixes to customers in foodservice, industrial and retail channels. Terms of the sale were not disclosed.

Arbor acquired Concord in 2015 from second generation family owner and CEO, Peter Neville, who re-invested alongside Arbor and remained involved as Chairman of Concord’s Board of Directors.

With Concord, Arbor successfully ran its longstanding and tested playbook of transitioning a company from family ownership and driving the next phase of growth. By bolstering senior management and investing in sizeable capital and infrastructure projects, Arbor sophisticated operations, expanded product capabilities and increased capacity at Concord. These investments enabled the Company to expand into new markets and categories, ultimately winning sizeable business with blue-chip customers and propelling growth under Arbor’s ownership.

“We’re very proud of the growth and operational transformation that we catalyzed at Concord,” said Arbor Principal George Russell. “Our goal was to take the strong foundation built by the Neville family and strengthen it with a world-class team, leading R&D and production capabilities, and innovative ingredient offerings. The business is a natural extension for Sugar Foods and we’re excited to see Concord’s next chapter of growth under their ownership.”

“Concord benefited from an outstanding partnership with Arbor over the last eight years,” commented Concord Chairman Peter Neville. “The Arbor team’s deep understanding of food and beverage businesses was key to my decision to partner with them in 2015 and core to the growth of Concord since then. Arbor’s focus on building businesses for long-term success enabled us to make the right strategic decisions and investments for Concord, and ultimately sell to a great next owner in Sugar Foods.”

Concord CEO Robin Galloway noted, “This was my third role as an executive of an Arbor owned company and I want to thank Arbor for their full support in me as CEO, and their commitment to Concord over the years. The Concord team is excited to continue our growth momentum as we join the Sugar Foods family.”

William Blair & Company acted as exclusive financial advisor to Concord on the transaction and Kirkland & Ellis LLP served as Concord’s legal counsel.