Stellex will support new investment in automation and expanded production capacity and provide management expertise
Stellex Capital Management, a middle-market private investment firm has acquired Custom Made Meals (CMM), a Denver-based provider of fresh, handmade, oven-ready entrees, appetisers and sides for grocery retailers.
CMM currently caters to more than 15,000 retail locations in the US. CMM’s president and chief executive Dale Easdon said Stellex will support new investment in automation and expanded production capacity and provide management expertise during its next growth phases.
Easdon added: “Our financial partnership with Stellex will provide the resources for CMM to continue its rapid expansion, both through geographic expansion and acquisition opportunities. This new investment in the company’s growth will give us the increased capacity, improved infrastructure and geographic flexibility to better serve our customers in meeting the demands of this fast-growing market.”
Trey Lee, principal at Stellex, added: “At Stellex, we look for opportunities to invest in businesses that are undergoing or facilitating transformation. CMM is providing its retail customers products that meet growing consumer demand for convenient yet high-quality, fresh foods. At the same time, CMM is also providing its customers product development and innovation along with a service, which reduces the complexities of procurement, labour management, food safety, shelf life, and waste. We have witnessed the power of these trends within other food products, and CMM has the team, the scale and the new financial support of Stellex to continue paving the road in the fresh, ready-to-cook category.”
Stellex Capital Management has offices in New York and London.
Date published: 11 May 2021