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A Buda-based maker of gourmet and specialty foods has gone from public to private ownership through a recapitalization.
Buda's Jardine Foods first went public when it was acquired by Gourmet Group Inc. [OTC BB: GOUG] in the fall of 2000. In April, the parent company announced its intentions to spin off Jardine Foods in hopes of selling it to KBK Mezzanine Partners, a unit of Fort Worth-based KBK Capital Corp.
A new company - simply referred to as "NewCo" in Gourmet Group's most recent quarterly filing with the SEC was formed to hold Jardine Foods' assets.
In an Aug. 19 news release, Jardine Foods says the recently completed deal means the food maker now is owned by a newly formed private company.
Ryan Schooler, chief financial officer of Jardine Foods, declines to reveal financial terms of the deal or the name of the...