Founded in 1973 by the Sanna family, Saco has grown into a diversified and rapidly expanding portfolio of leading shelf-stable food brands: Dolci Frutta, the #1 brand in confectionary chocolate coatings; California Sun Dry, the #1 brand in sun-dried tomato food products; Saco Pantry, a leader in instant dry milk products and complementary baking ingredients; Solo Foods, a century-old staple in toppings, pastes and fillings; and Hoosier Hill Farm, a pioneer in online and direct-to-consumer food offerings. Fengate acquired Saco in partnership with Weathervane Investment Corp. in 2024.
Transformative partnerships
Fengate’s partnership with Saco Foods in 2024 marked a strategic move into a resilient segment of the food and beverage industry. As a leading distributor of shelf-stable brands with defensible positions in niche categories, Saco was a natural fit for Fengate’s thesis focused on market-leading brands and recurring demand.
The opportunity arose through an advantaged auction where Fengate became the preferred bidder, thanks to strong alignment with Saco’s management team led by CEO Tom Walzer. From the outset, the partnership emphasized collaboration, with Fengate bringing expertise to align interests and drive growth.
To accelerate momentum, Fengate recruited Rebecca Rudisch as Operating Advisor and Board Member, leveraging her 27+ years of experience at major consumer brands. Weathervane Investments joined as a like-minded co-investor, and Fengate’s origination team worked closely with Saco’s CEO to build a robust M&A pipeline.
Results followed quickly. Within the first month, Saco completed its first tuck-in acquisition, Ancient Harvest and Pamela’s, expanding its portfolio and strengthening its market position. At the same time, the team rolled out RedZone across the plant to bolster real‑time production visibility and operator engagement, driving an immediate improvement in OEE (Overall Equipment Effectiveness) from 37% to 66%. Fengate’s Centers of Excellence supported integration, focusing on IT systems, communications, and marketing enhancements, including an ingredient improvement initiative for California Sun Dry.
By year-end, Saco reviewed more than 100 add-on opportunities, supported by Fengate’s origination resources. Today, the company stands as a dynamic platform poised for continued expansion, backed by Fengate’s strategic guidance and operational expertise.
