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CHICAGO - August 12, 2008 - Wind Point Partners, which is a Chicago-based private equity investment firm, has announced that it has acquired Ryt-way Industries in partnership with David Finch and George Bayly.
Lakeville, MN.-based Ryt-way is a leading contract manufacturer and packager serving the food industry. Ryt-way provides primary and secondary co-manufacturing, logistics and inventory management services with current capabilities focused on foods such as ready-to-eat cereals and meals, snack foods, crackers, mixes and convenience foods.
By consistently delivering high-quality co-manufacturing and packaging services in an efficient, timely and cost-effective manner, Ryt-way has been able to foster deep, long-term partnerships with its customers, which are leading consumer food companies.
Consistent with Wind Point’s strategy of partnering with a top-caliber CEO prior to acquisition, David Finch will join Ryt-Way as CEO. He previously was the group vice president of Johnsonville Sausage where he led Johnsonville (a privately held food company) and grew revenues from $250 million to more than $500 million.
In addition, Finch will be joined by George Bayly – the former chairman and CEO of Altivity Packaging – who will become chairman of Ryt-Way’s board of directors; Larry Muma – the former vice president of operations for CNS/Breath Right and previously vice president of operations at Pillsbury – who will become COO; and Mary Beth Fong – the former CFO of Young Americas with 20 years of experience in the food industry – who will join Ryt-Way as CFO.
Wind Point’s other food industry investments include Nonni’s Food Company, which is a manufacturer and marketer of specialty premium baked goods that was sold to Vivartia in March 2008; Bakery Chef, which a leading provider of bakery products that was sold to Ralcorp in 2003; and Santa Maria Foods, which is a leader in the Canadian market for Italian specialty foods that is still in Wind Point’s portfolio.
