Swissrose International, the specialty cheese unit of ConAgra Foods Inc, has been acquired by Fairmount Food Group LLC. Fairmount, a portfolio company of private equity firm GTCR Golder Rauner LLC, was formed in 2003 in partnership with Bing Graffunder, former chief operating officer of Morningstar Foods Inc.
Founded in 1938, Swissrose markets specialty and imported cheeses to retail and foodservice customers nationwide. As a result of the transaction, Fairmount will be the largest importer and marketer of specialty and deli-style cheeses in the United States, with the combined business generating more than $500 million in annual revenues.
The deal marks the fifth such acquisition for GTCR and Dallas TX-based Fairmount. Recent additions have included DCI Cheese Co, Green Bay Cheese, Carter Meister, and G&G Foods.