Norwood, MA – February 2, 2010 – Key Principal Partners Corp. (“KPP”), a $1 billion private investment firm, announced today an investment of $22.0 million in Home Market Foods, Inc. to refinance existing indebtedness and facilitate its continued growth.
Headquartered in Norwood, Massachusetts, Home Market Foods is a specialty manufacturer of fully–cooked and frozen entrees, appetizers, and snacks for both retail and foodservice customers (see www.HomeMarketFoods.com). The Company provides value–added product under both private label and its own well known brands, including Cooked Perfect®, Roller Bites® and Freezer Queen™.
“With KPP’s investment we have really strengthened our balance sheet. This will enable us to accelerate our growth and ultimately provide the best possible service and product offerings to our customers,” said Douglas Atamian, Chief Executive Officer and co–owner of Home Market Foods. “This transaction is consistent with our commitment to continuously improve every aspect of our business, just as we have invested in our people and facilities,” added his brother Wes Atamian, President of the Company and co–owner. Home Market Foods operates out of a new state–of–the–art facility, strategically located in the Northeast U.S. where the Company enjoys a leading market position. For over 50 years, Home Market Foods has been known for quality and innovation, as well as for the highest level of dedication and service to its customers.
“Doug, Wes and their team have done an impressive job building a portfolio of exceptional brands and enhancing consumer awareness of their diverse product offerings” said Mike Conaton, a Partner at KPP. “We are looking forward to helping support their continued growth.”
About Key Principal Partners
Key Principal Partners (KPP) is a $1 billion private investment firm that provides expansion capital to profitable middle-market companies with at least $30 million in revenue. The firm has the flexibility to provide any combination of subordinated debt, preferred equity and/or common equity in either non-control (minority ownership) or control (majority ownership) positions. KPP can invest between $10 million and $40 million to facilitate the growth, acquisition, refinancing, deleveraging or liquidity needs of private company owners and their management teams. Affiliated with KeyCorp, KPP is headquartered in Cleveland, and has additional offices in Greenwich, and San Francisco.
Cleveland–based KeyCorp is one of the nation’s largest bank–based financial services companies, with assets of approximately $97 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit www.Key.com.