Entrepreneurial Equity Partners (e2p), a Chicago-based, control-oriented private equity firm focused on the food and consumer packaged goods industries, has closed its inaugural fund, Entrepreneurial Equity Partners I (e2p I or Fund I), with $423m in aggregate capital commitments.
e2p’s team is led by experienced food and consumer packaged goods (CPG) operating executives and investment professionals with extensive industry networks and an entrepreneurial mindset. Managing Partner Mark Burgett brings over 20 years of private equity and finance experience and Managing Partner CJ Fraleigh brings over 25 years of operating experience, including prior roles as Chairman & CEO of Shearer’s Foods (financial sponsor backed), CEO of Sara Lee North America and VP of Colas at PepsiCo.
Additionally, Burgett and Fraleigh are complemented by Partner Rich Scalise, whose prior roles include Chairman & CEO of Hearthside Food Solutions (financial sponsor backed), President of Ralcorp Frozen Bakery Products, and President & COO of ConAgra’s Refrigerated Foods Division. Burgett, Fraleigh and Scalise previously partnered together on several successful private equity investments.
The partners are supported by a team of experienced private equity professionals and by the e2p Ecosystem, which is a network of business owners, operators, and service providers operating across the food and consumer packaged goods industry.
“We are pleased and humbled by the investor support for our inaugural fund,” comments Burgett. “We view Fund I’s successful capital raise as a testament to the team we have built and our demonstrated ability to deploy capital into compelling opportunities.”
Fund I has invested in five platform investments to date, including Charcuterie Artisans (a producer of high-quality charcuterie and meats), Salm Partners (the largest US manufacturer of fully cooked sausages utilising a differentiated, co-extrusion, cook-in-package manufacturing process), Sara Lee Frozen Bakery (a leading provider of frozen bakery goods), World Food Holdings (a leading provider of authentic Mediterranean foods), and Ya YA Foods (one of North America’s largest and most capable co-packers of aseptic food and beverage products).
e2p Managing Partner CJ Fraleigh adds: “We look forward to the opportunities that lie ahead and are confident that our extensive operational expertise and industry networks will help us drive growth and value for our portfolio companies and investors.”
Moelis & Company’s Private Funds Advisory Group served as placement agent. Latham & Watkins LLP acted as legal counsel.