Investment to accelerate company growth and global expansion, while driving further culinary innovation
STERLING, Va. and BOSTON, Mass., June 6, 2022 /PRNewswire/ — Cuisine Solutions Inc., the world leader and pioneer in premium sous vide food, announced today a $250 million Investment by Bain Capital to accelerate its growth and global expansion. The minority investment will further solidify Cuisine Solutions’ authority in the sous vide category, provide additional resources to support accelerated product innovation, and further expand the company’s domestic and international business and global manufacturing footprint The United States, Franceand Thailand.
Cuisine Solutions will continue to be led by the existing management team led by the Chief Executive Officer, Philip Hasselman, and chairman, Stanislaus Wilgrainwho, in addition to the majority holding of the Vilgrain family, remain significant owners of the company.
headquarters in Sterling, VaCuisine Solutions is the largest sous vide company in the world and a leading culinary innovation partner with locations in North America, Europethe middle Eastand Asia. Recognized by the best chefs and kitchens in the world, the company is the production and thought leader for the innovative slow-cooking technique that it developed, perfected and popularized. Cuisine Solutions supplies prepared sous vide food products to hospitality, onboard, military and retail customers worldwide including Amtrak, Costco, Dunkin’, Hilton Hotels & Resorts, Panera and Starbucks among many other industry leaders.
“While our future was bright prior to this strategic partnership, it is even more exciting now as we see a significant runway to drive growth and expansion through continued innovation across multiple product categories,” said Hasselman. “We are proud to be at the forefront of the art and science of sous vide, which is the answer to so many of the challenges our customers face both inside and outside the kitchen. This investment will allow us to rapidly scale our global manufacturing infrastructure, strengthen business partnerships and strengthen our supply chain, creating additional scale to meet the growing demands of the global partners who rely on our products in tens of thousands of locations every day.”
“My vision in founding Cuisine Solutions was to be the best innovator and food manufacturer in our field, building world-class partnerships and letting our reputation speak for itself through our quality, scale and innovation.” said Vigrain. “Having a world-class investment firm of the caliber of Bain Capital backing our vision speaks to the success of our original mission and the exciting future of our industry. I am extremely proud of our accomplishments from our humble beginnings in 1990 to the present and I look forward to working with Bain Capital to build a leading, innovative food company of the future.”
“Stanislas, Felipe and the management team have done an excellent job of making Cuisine Solutions a clear leader in the rapidly growing sous vide market, recognized by many of the world’s top chefs. The company’s unique range of culinary innovations offers higher quality and consistency, better food safety and lower costs, which represents a win-win situation for its customers in the current macroeconomic environment,” the company said Cristian Jitianua director at Bain Capital. “We are excited to partner with Cuisine Solutions and support the management team’s growth plans while continuing to enhance the value proposition as the preferred culinary innovation partner for premier restaurant, retail, travel and hospitality brands.” added Jeffrey Chunga director at Bain Capital.
Bain capital has a long history of working with companies in the consumer goods, retail and hospitality industries to accelerate growth. The Company’s investments in restaurants, hospitality and food include Advantage Solutions (NASDAQ: ADV), Bloomin’ Brands (NASDAQ: BLMN), Brakes Group Food Distribution, Burger King (NYSE: QSR), Dessert Holdings and Dunkin’ Brands Inc. , Domino’s Pizza (NYSE: DPZ), Gail’s Bakery, Retail Zoo, Skylark Restaurants and Valeo Foods.
The transaction is expected to close in 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 counsel to Cuisine Solutions in connection with the transaction. BofA Securities acted as financial advisor and Kirkland and Ellis acted as legal counsel to Bain Capital.
About kitchen 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 that the company developed, perfected and popularized decades ago. Known for its innovation, the company has launched sous vide products in a wide range of categories – including proteins, sauces, grains and vegetable products, as well as its hugely popular egg bites. Their pasteurized sous vide products offer a shelf life of 18 months frozen, six days thawed and can be ready in the oven in minutes. This allows catering and home cooks to save time, simplifies the complexity of all supply chain challenges and is a perfect solution to significantly reduce waste and labor costs. headquarters in Sterling, Va, Cuisine Solutions serves more than 22,000 restaurants and 6,000 retailers as well as major airlines and hotels. Visit www.cuisinesolutions.com for more information.
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 perfectly cooked. In 1971, Dr. Bruno Goussault (who later became Chief Scientist at Cuisine Solutions) described sous vide as a way to enhance texture and flavor while preserving the natural integrity of cooked foods. dr Goussault discovered that the sous vide approach – in which food is slowly cooked in specially designed, vacuum-sealed bags at a slightly lower temperature than usual – resulted in a remarkable improvement in flavor and a reduction in food shrinkage compared to traditional cooking methods. Cuisine Solutions’ heritage in sous vide – and its continued innovation in science – has enabled the company to consistently deliver restaurant quality products that are trusted and preferred 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 creating lasting impact for our investors, teams, businesses and the communities in which we live. Since our inception in 1984, we have applied our knowledge and experience to organically expand across multiple asset classes, including private equity, credit, public equity, venture capital, real estate and other strategic focus areas. The company has offices on four continents, more than 1,300 employees and approx $160 billion in assets under management. To learn more, visit www.baincapital.com.
For kitchen solutions
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For Bain Capital
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SOURCE Cuisine Solutions, Inc.