MidOcean Partners Acquires Louisiana Fish Fry, a Leading Branded Flavor and Seasonings Platform

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NEW YORK, August 2, 2021 – MidOcean Partners (“MidOcean”), a premier middle market private equity firm focused on the consumer and business services sectors, announced today that it has acquired Louisiana Fish Fry (the “Company”). Louisiana Fish Fry is an industry leading manufacturer and supplier of authentic, Louisiana-inspired food products. The Company’s products are sold through leading grocery, mass and foodservice customers with a broad reach across the United States. MidOcean intends to accelerate the Company’s growth and drive value through comprehensive organic initiatives and strategic M&A. Financial terms of the transaction were not disclosed.

Founded in 1982 and headquartered in Baton Rouge, Louisiana, the Company manufactures and distributes coatings, sauces, spices, seasonings, marinades, bases and other Louisiana-inspired food products. Louisiana Fish Fry is known for its great tasting, authentic products that are aligned with long-term consumer preferences. The Company is led by an experienced senior management team, including CEO, Michael Morse, and CFO, Gary Galeziewski, under whose leadership the Company has expanded national distribution and increased household penetration while maintaining its commitment to Louisiana-based flavors and brand authenticity.

“We are excited to partner with MidOcean to continue driving outsized growth for Louisiana Fish Fry,” said Michael Morse. “MidOcean has an impressive track record in executing transformational growth. Their partnership, expertise and industry knowledge will enable us to dedicate our focus to key areas of our strategy, such as investment in our people and organic sales growth, which will come from expanded distribution and product development. We look forward to better serving our customers and end consumers while expanding into new markets.”

Daniel Penn, Managing Director at MidOcean, commented, “MidOcean has been evaluating opportunities in the branded food category for a number of years and is thrilled to partner with Louisiana Fish Fry’s exceptional management team for the Company’s next phase of growth. Our focus in this sector has been in partnership with DJ Jenson, a MidOcean Operating Partner with over 30 years of expertise in the industry and who will serve as Chairman of the Louisiana Fish Fry Board. Joining DJ on the Board will be two of our other world-class Operating Partners, Tony DeLio and Lisa Mann, both of whom have highly relevant branded food experience, as well as Dave Moran, a long-time industry executive and investor.”

DJ Jenson joined MidOcean as an Operating Partner and dedicated resource to MidOcean’s efforts in the food and beverage sector in 2019. Mr. Jenson has over three decades of senior leadership and brand-building experience across a broad range of top-tier consumer brands, including numerous food and beverage platforms. As a hands-on operator, he has a track record of accelerating growth of revenues, earnings and brand equity without compromising core values, culture, authenticity or purpose. Prior to joining MidOcean, Mr. Jenson had over a decade of private equity experience, served as a director on the boards of numerous consumer businesses and held senior leadership roles at Burton and Timberland.

“I’m excited to partner with the Louisiana Fish Fry management team and look forward to driving growth and building on the legacy of this incredible brand,” said DJ Jenson. “Louisiana Fish Fry offers a wide variety of authentic, delicious products for its customers with numerous avenues for continued growth. We plan to focus on maintaining the strong heritage of the brand, while also expanding into new geographies, channels and product lines. We look forward to executing this strategic plan by working closely with the Louisiana Fish Fry team.”

Gibson Dunn & Crutcher LLP acted as legal advisor to MidOcean.

About MidOcean

MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts.

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