MIDDLETON, WIS. — Fengate Private Equity, a division of Fengate Asset Management, has completed the acquisition of Saco Foods Holdings, LLC from Benford Capital Partners. Terms of the acquisition were not disclosed.

Middleton-based Saco Foods has a portfolio of shelf-stable food brands sold primarily at supermarkets and mass retailers as well as through e-commerce channels. The brands include Dolci Frutta in confectionery chocolate coatings; California Sun Dry in sun-dried tomato food products; Saco Pantry in instant dry milk products and complementary baking ingredients; Solo Foods in toppings, pastes and fillings; and Hoosier Hill Farm in online and direct-to-consumer food.

The Sanna family founded Saco Foods in 1973 and in 2014 sold the company to Tom Walzer, who in 2016 recapitalized the business in partnership with Benford Capital Partners.

The acquisition marks Fengate Private Equity’s first platform investment in the United States. Fengate will partner with Weathervane Investment Corp. to support growth at Saco Foods. Walzer, as chief executive officer, will continue to lead the management team at Saco and will retain an equity interest in the company.

“We are excited to back Tom and his team, who have built a strong portfolio of leading brands that sit at the intersection of quality, heritage and convenience,” said Jennifer Pereira, managing director, group head of private equity at Fengate. “In the food and beverage sector, Saco is an excellent fit with our strategy of backing strong management teams and investing in trusted and enduring products with ample whitespace for growth.