Pacific General, a New York-based investment firm specializing in consumer and industrials private equity investments, has invested in Old World Provisions Inc. (OWP) as a strategic growth partner together with S Food Inc., a South Korean food manufacturer focused on value-added meat products and food ingredients.

Founded in 1942 in New York, OWP is a family-owned value-added meat processor known for its pastrami, roast beef, specialty smoked meats, poultry and other deli products. The company maintains long-standing relationships with national foodservice and retail customers.

Pacific General worked closely with both OWP and S Food to structure a strategic partnership to support the Company’s growth, centered on operational continuity, strategic alignment and long-term value creation. The partnership combines OWP’s established US production and distribution platform, S Food’s product development expertise and large-scale operating capabilities and Pacific General’s sector expertise in the food industry.

Through this partnership, OWP will continue to invest in product innovation, technology and operations, including the selective introduction of Korean-inspired, value-added offerings tailored for the US market, while exploring opportunities to broaden OWP’s distribution footprint across the US and select international markets.

“Pacific General played a critical role in shaping this partnership from identifying strategic fit to thoughtfully structuring a transaction that aligns longer-term objectives across all parties,” said Seth Shuket, president of Old World Provisions.

“This investment reflects Pacific General’s disciplined approach of first developing an in-depth understanding of the underlying business, identifying its core-strengths and crafting a long-term strategic growth strategy supported by the right strategic partner,” said Matthew Yoon, managing partner at Pacific General. “Also, by working closely with the shareholders of OWP and S Food, we were able to thoughtfully structure a transaction that aligned the interests of all stakeholders, navigated a complex set of considerations and positioned the business for growth while preserving operational continuity.”

Dajeong Lee, partner at Pacific General, said, “This investment highlights Pacific General’s ability to leverage its deep sector expertise and international presence to bring a differentiated growth angle that builds on a company’s long-standing legacy. We are excited to closely work with OWP and S Food to support the Company’s next stage of growth and unlock its full long-term potential.”

Foley Hoag LLP served as legal counsel to Pacific General. Lafayette Square provided senior financing in support of the transaction.

Source: Pacific General