Cuisine Solutions, Global Leader and Pioneer in Sous Vide Premium Foods, Announces $250 Million Growth Investment from Bain Capital
PR96325
STERLING, Va. and BOSTON, Mass., June 6, 2022 /PRNewswire=KYODO JBN/ --
- Investment to Accelerate Company's Growth and Global Expansion and Drive
Further Culinary Innovation
Cuisine Solutions (
) Inc., the global leader and pioneer in sous vide premium foods, today
announced a $250 million investment from Bain Capital to accelerate its growth
and global expansion. The minority investment will further establish Cuisine
Solutions' authority in the sous vide category, provide additional resources to
support accelerated product innovation, and expand its business domestically
and internationally as well as the company's global manufacturing footprint
beyond the United States, France, and Thailand.
Logo - https://mma.prnewswire.com/media/1470817/Cuisine_Solutions_Logo.jpg
Cuisine Solutions will continue to operate under the leadership of the existing
management team, led by Chief Executive Officer, Felipe Hasselmann, and
Chairman, Stanislas Vilgrain, who remain significant owners in the business, in
addition to the Vilgrain family retaining a controlling interest.
Headquartered in Sterling, Virginia, Cuisine Solutions is the largest sous vide
company in the world and a leading culinary innovation partner, with locations
in North America, Europe, the Middle East, and Asia. Recognized by the world's
top chefs and kitchens, the company is the production and thought leader on the
innovative slow-cooking technique that it pioneered, perfected, and
popularized. Cuisine Solutions provides prepared sous vide food products to
food service, on-board, military, and retail customers worldwide including
Amtrak, Costco, Dunkin', Hilton Hotels & Resorts, Panera, and Starbucks among
many other industry leaders.
"Our future, while bright before this strategic partnership, is now even more
exciting as we see substantial runway to drive growth and expansion through
continued innovation across multiple product categories," said Hasselmann. "We
are proud to be the leader in the art and science of sous vide, which is the
answer to so many of the challenges our clients face inside and outside of the
kitchen. This investment will enable us to rapidly scale our worldwide
manufacturing infrastructure, business partnerships, and fortify our supply
chain, thereby creating additional scale to meet the growing needs of the
global partners who rely on our products every day across tens of thousands of
locations."
"My vision when founding Cuisine Solutions was to be the best innovator and
food producer in our space, develop best-in-class partnerships, and have our
reputation speak for itself through our quality, scale, and innovation," said
Vilgrain. "To have a world-class investment firm of Bain Capital's caliber
support our vision speaks to the success of our original mission and to the
exciting future of our industry. I am extremely proud of our accomplishments
from our humble start in 1990 to today and am looking forward to building
together with Bain Capital a leading, innovative food company of the future."
"Stanislas, Felipe, and the management team have done an outstanding job
building Cuisine Solutions into a clear leader in the fast-growing sous vide
market that is recognized by many of the world's top chefs. The company's
unique range of culinary innovations offer higher quality and consistency,
better food safety, and lower costs, which is a win-win for their customers in
the current macroeconomic environment," said Cristian Jitianu, a Managing
Director at Bain Capital. "We are excited to partner with Cuisine Solutions and
support the management team's growth plans while further enhancing the value
proposition as the preferred culinary innovation partner to blue-chip
restaurant, retail, travel, and hospitality brands," added Jeffrey Chung, a
Director at Bain Capital.
Bain Capital has a long history of partnering with companies in the consumer,
retail, and restaurant industries to accelerate growth. The firm's restaurant,
food service, and grocery-related investments have included Advantage Solutions
(NASDAQ: ADV), Bloomin' Brands (NASDAQ: BLMN), Brakes Group Food Distribution,
Burger King (NYSE: QSR), Dessert Holdings, Dunkin' Brands Inc., Domino's Pizza
(NYSE: DPZ), Gail's Bakery, Retail Zoo, Skylark Restaurants, and Valeo Foods.
The transaction is expected to close during the second quarter of 2022 and is
subject to customary closing conditions.
Moelis & Company LLC acted as exclusive financial advisor and sole placement
agent and McDermott Will & Emery acted as legal advisor to Cuisine Solutions in
connection with the transaction. BofA Securities served as financial advisor
and Kirkland and Ellis served as legal advisor to Bain Capital.
About Cuisine Solutions
Led by an international team of award-winning chefs, Cuisine Solutions is the
world's leading manufacturer of sous vide products — the innovative, precise
slow-cooking technique the Company pioneered, perfected, and popularized
decades ago. Renowned for its innovation, the Company has launched sous vide
products across a wide spectrum of categories – including proteins, sauces,
grain and plant-based products, and its hugely popular egg bites. Their
pasteurized sous vide items offer 18 months shelf life frozen, six days when
defrosted, and can be oven finished in mere minutes. This allows food service
and home cooks to save time, simplify the complexity of any supply chain
challenges, and is a perfect solution to significantly reduce waste and labor
costs. Headquartered in Sterling, Virginia, Cuisine Solutions services more
than 22,000 restaurants and 6,000 retailers, as well as major airlines and
hotels. For more information, visit www.cuisinesolutions.com .
About Sous Vide
Sous vide – French for "under-vacuum" – is an innovative cooking technique in
which food is vacuum sealed and heated in water until cooked to perfection. In
1971, Dr. Bruno Goussault (who would later become Chief Scientist at Cuisine
Solutions) developed sous vide as a way of improving the texture and flavor,
while maintaining the natural integrity of cooked foods. Dr. Goussault
discovered that the sous vide approach – whereby food is slowly cooked at
slightly-lower-than-usual temperature in specially designed, vacuum sealed
pouches – resulted in notable flavor enhancement and a reduction in food
shrinkage compared to conventional cooking methods. Cuisine Solutions' heritage
in sous vide – and its continuous innovation in the science – has allowed the
Company to consistently deliver restaurant-quality products that are trusted
and favored by top chefs and discerning foodies around the world.
About Bain Capital
Bain Capital, LP is one of the world's leading private multi-asset alternative
investment firms that creates lasting impact for our investors, teams,
businesses, and the communities in which we live. Since our founding in 1984,
we've applied our insight and experience to organically expand into numerous
asset classes including private equity, credit, public equity, venture capital,
real estate and other strategic areas of focus. The firm has offices on four
continents, more than 1,300 employees and approximately $160 billion in assets
under management. To learn more, visit www.baincapital.com .
Media Contacts:
For Cuisine Solutions
R. Couri Hay / Denise Finnegan
R. Couri Hay Creative PR
Couri@rcourihaycpr.com | Denise@rcourihaycpr.com
212-580-0835
For Bain Capital
Scott Lessne / Charlyn Lusk Stanton
(646) 502-3569 / (646) 502-3549
slessne@stantonprm.com / clusk@stantonprm.com
SOURCE Cuisine Solutions, Inc.
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