River Capital and Other Investors Acquire Romanoff International, Inc.
River Capital, an Atlanta-based private investment firm, has partnered with other investors to acquire Romanoff International, Inc. (“Romanoff”). The purchase price was not disclosed.
Romanoff, headquartered in Charlotte, North Carolina, is a manufacturer and distributor of specialty foods and beverages. Romanoff is one of the oldest and largest distributors of caviar in the United States under its own brand name. The Company also manufactures, owns or licenses over thirty other branded food products including condiments, brandied fruits, herring, cocktail mixes and sauces. Romanoff’s products are distributed nationwide to grocery store chains, restaurants and specialty food retailers. The Company operates from facilities in North Carolina and Minnesota.
River Capital is one of the oldest firms of its type in the Southeast and has acquired companies in a broad range of industries with combined annual revenues in excess of $600 million. River Capital primarily invests in light manufacturing, distribution and select service companies with purchase prices of $10 million to $50 million. For add-on acquisition candidates, the firm will consider companies with a purchase price less than $10 million.