FOR IMMEDIATE REEASE

 Wind Point Partners to Merge Two Portfolio Companies: Hearthside Food Solutions and Ryt-way Industries

Chicago, IL, May 15, 2013 — Wind Point Partners, a Chicago-based private equity firm, today announced plans to merge two of its portfolio companies – Hearthside Food Solutions and Ryt-way Industries. The merger, which will take effect in late May, will create the leading contract food manufacturer in North America, with over $1 billion in sales and 19 manufacturing facilities across seven states.

Wind Point acquired Hearthside in April 2009 and Ryt-way in August 2008. Both companies provide contract manufacturing services to leading food and consumer packaged goods companies in North America. During Wind Point’s ownership, Hearthside and Ryt-way each completed three acquisitions that further diversified each company’s customer base and product portfolio.

Rich Scalise, CEO of Hearthside Food Solutions, will assume the role of CEO for the combined business.

Rich is a 35-year veteran of the food industry who most recently served as President of Ralcorp Frozen Bakery Products, a division of Ralcorp Holdings, Inc. (NYSE:RAH). Rich previously spent 18 years with ConAgra Foods (NYSE:CAG) in a number of roles including his last position as President and COO of ConAgra’s $3 billion Refrigerated Foods Division.

“Hearthside and Ryt-way have a complementary customer base and supply chain capabilities. The combined company will be not only significantly larger but also able to deliver a wider array of services,” said Rich.

David Finch, CEO of Ryt-way, added, “This is a great opportunity for our customers. By offering a broader suite of capabilities, Hearthside and Ryt-way will become a one-stop shop for contract manufacturing.”

“Rich and David have done an excellent job driving strong revenue growth, commercializing new products and completing accretive acquisitions at Hearthside and Ryt-way,” said Mark Burgett, a managing director at Wind Point. “By combining two industry leaders, we are able to create significant growth opportunities for the business in addition to value for our investors. Given the similarities between the businesses, we expect to start realizing benefits immediately.”

About Wind Point Partners

Wind Point Partners is a private equity investment firm that manages commitments of approximately $2.5 billion. Wind Point focuses on partnering with top caliber CEOs to acquire middle market businesses where we can establish a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.com.

 About Hearthside Food Solutions

Hearthside Food Solutions, headquartered in Downers Grove, Ill., is the nation’s largest independent bakery and a full service contract manufacturer of high quality grain-based food and snack products for some of the world’s leading premier brands. Hearthside operates 12 food manufacturing facilities in five states. For more information on Hearthside Food Solutions, visit www.hearthsidefoods.com.

About Ryt-way Industries

Ryt-way, headquartered in Lakeville, Minn., is a leading provider of contract manufacturing and high performance packaging equipment solutions to North America’s leading food and consumer products companies. Ryt-way is known for its flexibility, scale and commercialization expertise in dry foods. Ryt-way operates seven production facilities across four states. Additional information about Ryt-way is available at www.rytway.com.

Hearthside, headquartered in Downers Grove, Ill., is a full service contract manufacturer of high quality grain-based food and snack products. Wind Point acquired the Hearthside platform in April 2009, in addition to three subsequent acquisitions, including the Golden Temple business in 2010. During Wind Point’s ownership, Hearthside has grown into the largest independent bakery in the U.S.

Wind Point invested in Hearthside in partnership with Rich Scalise, who joined as CEO at the time of Wind Point’s investment. Rich is a 35-year veteran of the food industry who most recently served as President of Ralcorp Frozen Bakery Products, a division of Ralcorp Holdings, Inc. (NYSE:RAH). Rich previously spent 18 years with ConAgra Foods (NYSE:CAG) in a number of roles including his last position as President and COO of ConAgra’s $3 billion Refrigerated Foods Division.

Mark Burgett, a managing director at Wind Point, said, “In addition to providing an attractive return on our investment in Golden Temple, the divestiture will allow Rich and his team to focus exclusively on Hearthside’s core business of contract manufacturing.”

Rich Scalise, CEO of Hearthside, commented, “Golden Temple performed very well over the past three years, and we grew both revenue and EBITDA significantly. Golden Temple products have a strong market position within all-natural cereals, and we think they will be an excellent addition to Post’s product portfolio.”

Wind Point’s other investments in the food industry include Shearer’s Foods (acquired in October 2012), Rupari Foods (acquired in July 2011), Nonni’s Biscotti (acquired in February 2011), Ryt-way Industries (acquired in August 2008), Santa Maria Foods (sold to Sofina Foods in 2012), and Bakery Chef (sold to Ralcorp in 2003).

About Wind Point Partners
Wind Point Partners is a private equity investment firm that manages commitments of approximately $2.5 billion. Wind Point focuses on partnering with top caliber CEOs to acquire middle market businesses where we can establish a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.com.

About Hearthside Food Solutions
Hearthside Food Solutions, headquartered in Downers Grove, IL, is the nation’s largest independent bakery and a full service contract manufacturer of high quality grain-based food and snack products for some of the world’s leading premier brands. Hearthside operates 13 food manufacturing facilities in six states with a workforce in excess of 5,000.

Hearthside Foods was again featured in a major industry trade magazine. The story, from the April issue of Food Manufacturing, was based on a plant tour and series of interviews by the magazine’s editor, Krystal Gabert in late 2012. The full text of the story can be found here, or by clicking the magazine below.

This is the first year Hearthside is eligible for the list and has debuted at #44. More information can be found at Crain’s Chicago Business.

DOWNERS GROVE, Ill., Mar 19, 2012 (BUSINESS WIRE) — Hearthside Food Solutions LLC (Hearthside) confirmed today that it had prevailed over the NLRB in a legal challenge stemming from allegations related to the free and fair NLRB supervised election held at one of its locations in June 2011. This victory dismisses all charges as groundless and orders the certification of that election.

The litany of charges stemmed from BCTGM (Bakery, Confectionery, Tobacco Workers and Grain Millers’ International Union) allegations of company actions on the lead up to the free and fair NLRB supervised election held June 2nd and 3rd 2012 at the firm’s London, Kentucky manufacturing plant. In that decisive election the employees voted in an overwhelming number to reject an offer of union representation. The final vote total of the now certified election was 416 “No” and 168 “Yes”. The certification is effective as of March 15, 2012.

“The judge threw everything out. We are pleased with the court’s ruling and believe that we have been vindicated. More importantly, the voice of our people, rejecting third party interference, has prevailed,” said Rich Scalise, Chairman and CEO of Hearthside. “The complete dismissal of these spurious charges and the official election certification closes what has been an expensive and time consuming process. Even though we knew all the charges to be false, we still needed to divert resources and time to defending our company, our people and our reputation.”

This was one of two organizing attempts made by the union at Hearthside manufacturing facilities in 2011. In both attempts the union’s offer was overwhelmingly rejected by workers in free and fair NLRB supervised elections.

Hearthside was defended in this action by the Lowenbaum Partnership LLC law firm, a specialist in labor law. The ruling was delivered on March 1st 2012. The 43 page decision of the Administrative Law Judge in Washington DC can be found here.

About Hearthside Food Solutions

Hearthside Food Solutions, headquartered in Downers Grove IL, is the nation’s largest independent bakery and a full service contract manufacturer of high quality grain-based food and snack products for some of the world’s leading premier brands. The privately held company, formed in 2009, today operates 13 food manufacturing facilities in Michigan, Ohio, Indiana, Kentucky, Minnesota and Oregon with a workforce in excess of 5,000. More information on the company can be found at www.hearthsidefoods.com.

Video Transcript: Famous for its buttery assortment of sweet treats like Pinwheels and Butterscotch Stars, Maurice Lenell cookies have been beloved by Chicagoans for nearly 75 years. For cookie lovers, taking a bite out of a Maurice Lenell cookie is like tasting a childhood memory.

“It’s the fragrance,” says shopper Rita Anderson… “When you open the box, it has that certain fragrance. That reminds me of our childhood.”

For more than 70 years, Maurice Lenell cookies were manufactured and sold right here in Chicago, primarily out of their Harlem Avenue shop. “Lenell Cookies,” as it was first known, began as a bakery, founded in 1925 by Swedish brothers Hans and Gunnar Lenell. In 1937, the bakery changed its name to “Maurice Lenell.”

“His name was Erik Maurice Lenell and he was the son of Hans Lenell,” explains Jill Bocskay, who is Hans Lenell’s granddaughter.

“Hans started the company with his brother. But his son was actually the namesake of the company,” she says. “He chose that name because it was kind of an American sounding name – less European or Swedish, and he thought it would be easier for people in the United States.”

For nearly 50 years, the Lenell family built a name and a loyal following for specialties like Pinwheels, Raspberry Jelly Swirls and Almonettes.

“In Chicago, everyone still talks to me about it,” says Bocskay. “As a child, people would go there for every holiday to get lots of cookies for all their relatives, but also they would go there because you could see the cookies being made. It’s so much a part of people’s childhood.”

In 1985, the Lenell family decided to sell the Harlem Avenue bakery. The cookies were produced by another company for 22 years. But, when the Maurice Lenell Cooky Company, under the new company’s management, declared bankruptcy in 2007, many feared the historic confections would be lost forever.

But two years later, the newly formed Hearthside Foods, a Chicago-based baking company acquired the Maurice Lenell brand.

“Maurice Lenell is a top-of-mind brand, and it’s in the hearts of Chicagoans and it’s part of their past,” says Hearthside Vice President of Marketing, Roy Jasper.

Jasper was tasked with resurrecting Maurice Lenell.

“Our job was to figure out how to re-establish that same feeling and that same emotion in the brand, and carry it on,” he says.

Staying true to the Lenell tradition was imperative for the company’s CEO, Rich Scalise, a native Chicagoan who had fond memories of his childhood treat.

Today, Maurice Lenell cookies are produced in McComb, Ohio.