York, ME-based Stonewall Kitchen has been sold to Audax Private Equity, an investment firm based in Boston, MA. Financial terms were not disclosed.
According to Margaux Maertens, communications specialist for the brand, the company, there would be minimal, if any, operational changes. Stonewall Kitchen CEO, John Stiker, and the rest of the executive team will remain in place after the acquisition.
“Our primary goal is to make this transition as smooth as possible with little to no operational changes at the moment,” she told local news outlet The Press Herald, adding that additional hiring will depend on “future acquisitions and growth strategies.”
Stiker noted that the company’s growth, including the purchases of Tillen Farms, Napa Valley Naturals and Montebello imported pasta, has encouraged them to look for continued financial pathways.
Stonewall Kitchen also has nine stores in New England as well as a cooking school on its York, ME campus. It recently opened a cooking school in Costa Mesa, CA.