Touch the Soil News #1005 (Feature photo – Granola Bar – CCA SA 3.0 Unported)
The following is example of what goes on behind the scenes of the food brands we buy and enjoy.
Have you ever heard of Hearthside Food Solutions? Hearthside operates 25 manufacturing facilities across the U.S. and Europe, employing around 7,900 people.
They are a contract baker that bakes and packages goods such as energy bars, snack bars, granola bars, baked bars, cookies, crackers, pretzels, croutons, breadcrumbs, snack components and other baked foods and snacks. This means products you buy may or may not have been baked by the company and brands that sell what you are buying?
Hearthside (from its Website) claims to be the largest private bakery in the U.S. So who owns Hearthside? At present, Hearthside Food Solutions is owned by Goldman Sachs and Vestar Capital. Goldman Sachs and Vestar Capital purchased Hearthside in 2014 for $1.1 billion from Wind Point Partners.
Today, Hearthside Food Solutions is being sold to Charlesbank Capital Partners and Partners Group for $2.4 billion. In a world where big capital overshadows the baker, is it a given that financial priorities exceed other priorities?