In 2011, Victoria was owned and managed by two brothers, grandsons of the original founders. Huron partnered with this third generation to provide liquidity and to facilitate a transition to new management. Victoria is a leading producer and marketer of specialty Italian food products, including all natural pasta sauces, Italian condiments, and other premium Italian products. The Company’s products are predominantly sold in supermarkets, warehouse clubs, and specialty stores throughout the U.S. and Canada.
The family sellers sought a partner that could bring the capital and experience required to provide liquidity, bring additional management talent to the Company and help develop new customers and channels. Huron differentiated itself by identifying a seasoned candidate to round out the senior management team and adding a food industry operating partner to the Board of Directors. Our operating partner had extensive experience in taking a family-owned regional food brand to a national scale. Victoria saw the unique opportunity presented by Huron, and Huron saw the opportunity to capitalize on these key relationships to drive the expansion of existing brands and develop new product offerings.
- Strengthened the management infrastructure to include a Chief Marketing Officer and Chief Financial Officer
- Extended equity ownership in the company further into the executive ranks
- Brought a Huron operating partner to the Board of Directors who facilitated introductions to game-changing new accounts
- Made strategic investments to increase production capacity and capability
- Made strategic investments in assets dedicated to increasing and elevating brand awareness in the marketplace
Since the time of Huron’s initial investment, management and Huron have successfully increased Victoria’s core pasta sauce sales, developed two new retail brands and added new strategic customers which are among largest grocery retail chains in the U.S. The company’s capacity and sales reach have increased, as its brands continue to gain prominence.
Keys to Success
Provide the management team with the right human capital – both operating executives and advisors – to accomplish their growth objectives. Be value-added in all contacts with the team.