CenterGate Capital (“CenterGate”), an Austin-based private equity investment firm, announced today that its affiliate has made an investment in Teeny Foods (“Teeny Foods”, or “Teeny”), a leading developer and manufacturer of high-value frozen baked snacks and handheld meals, sold and distributed throughout the United States.
Established in 1964 and headquartered in Portland, Oregon, Teeny Foods specializes in manufacturing on-trend and portable, frozen, filled baked snacks and handheld meals for consumer brands throughout the United States. Teeny specializes in using delicious fillings across a variety of product forms. Its partners rely on Teeny to produce a wide variety of customized products which can be individually wrapped, or bulk packaged. “We are very proud of the 55+ year legacy we have built at Teeny Foods and are excited about the future growth opportunities of the business under CenterGate’s ownership,” commented Rick Teeny, whose family founded the business decades ago. “We believe CenterGate will be a great partner in carrying on the legacy for many years to come.”
General Manager Darryl Abram, who has been with the company since 1999, will continue to lead Teeny Foods. “We are excited about our partnership with CenterGate and what it means for our employees, customers, and vendors,” commented Abram. “CenterGate’s investment will provide us with the capital and strategic resources to continue to grow while maintaining our focus on the highest quality products and exceptional customer service.”
“The Teeny Foods investment is another example of CenterGate partnering with a successful, family-owned business,” commented Jeff Kovick, Managing Director at CenterGate Capital. “The Teeny Foods management team has built a great business with a reputation for fanatical customer service and innovative products that we are excited to support through its next stage of growth.”
CenterGate Capital was represented by McDermott Will & Emery LLP in the transaction.
About Teeny Foods
Teeny Foods is a leading developer and contract manufacturer of high-value frozen bakery snacks and handheld meals for branded food companies selling through foodservice and retail grocery channels. Teeny’s products include individually frozen, fully finished sweet and savory filled bakery products in a variety of shapes and sizes. Headquartered in Portland, Oregon, the company operates a state-of-the-art manufacturing facility from which it serves customers throughout the United States.
About CenterGate Capital
CenterGate Capital is an Austin, Texas based private equity firm focused on partnering with lower middle market companies with the potential to achieve transformational growth through operational and strategic development. CenterGate brings a balance of financial and operational experience and strategic insight to assist management in driving long-term sustainable growth. For more information, please visit www.centergatecapital.com.