Falfurrias Capital Partners invests in Carolina Foods

Equity firm Falfurrias Capital Partners has announced an investment in sweet baked goods manufacturer Carolina Foods, for an undisclosed sum. 

Carolina Foods, which owns the Duchess line of products as well as several leading bakery brands, is the firm’s third investment in the packaged goods category in two years – following its acquisition of condiment, sauce and spice company Sauer Brands and the popcorn seasoning company Chicago Custom Foods. 

“This partnership will give us the financial resources and management expertise to take Carolina Foods to another level,” said Paul Scarborough, CEO of Carolina Foods. “Falfurrias has a tremendous track record of helping the companies they invest in realise next-stage growth, and their expertise in food marketing and distribution will be especially useful to our organisation.”

Founded in 1934, Carolina Foods operates out of multiple sites across Charlotte, North Carolina. The company makes doughnuts, honey buns, pies, fritters and other treats under its Duchess brand, as well as private-label manufacturing and co-packing for numerous major snack brands. 

“We have been aware of Carolina Foods for a number of years and have been impressed by the success of the business,” said Falfurrias Partner, Chip Johnson. “We always enjoy partnering with companies in Charlotte, and this deal is especially exciting to us given our recent focus on the packaged foods market.  We feel we can add a great deal of value to the company based on our team’s knowledge of food manufacturing, marketing, and distribution.”