Private equity firm Redwood Holdings has reached an agreement to acquire Newly Weds Foods, a US-based supplier of batters, breadings, coatings, spices, and seasonings, for approximately $4 billion, according to Reuters.
Founded in 1932 by Paul Angell, Newly Weds Foods is a longstanding player in the processed food ingredients sector, with a portfolio serving manufacturers across the US. The company pioneered technologies including sheet cake rolling for desserts and innovative combinations with ice cream.
The sale follows the death of Charles Angell, who had led the business after taking over from his father, prompting the Angell family to explore a potential exit. Redwood Holdings, a family office established by billionaires Jim Davis and Steve Bisciotti, is reported to have executed one of the largest transactions undertaken by a family office to date.
Brian Johnson, CEO of Newly Weds Foods, will remain in his role following completion of the deal, ensuring continuity in leadership.
Both parties have declined to comment further on the transaction.
The acquisition highlights continued investor interest in the US food ingredients market, particularly in companies with heritage brands, technical expertise, and scalable product portfolios.
Redwood Holdings to acquire Newly Weds Foods in $4bn deal
