FOR IMMEDIATE RELEASE
Boston, Mass., February 8, 2017 – Gordon Brothers announced today that it has entered into a strategic partnership with Carolina Pride, a family-owned packaged meat producer based in Greenwood, South Carolina. Gordon Brothers, through its wholly-owned entity CPF Holdings LLC, now holds a majority equity interest in Carolina Pride. Family members of company founder, Dr. W.A. Barnette, have retained an equity interest in Carolina Pride and will remain involved in the company.
Carolina Pride will continue to operate in Greenwood, just as it has for almost a century. This change in corporate structure will allow Carolina Pride to build upon its storied history and heritage without disrupting the day-to-day operations of the company.
“We are excited about working with an established brand like Carolina Pride,” said Jim Lightburn, Senior Managing Director, Commercial & Industrial at Gordon Brothers. “The company certainly has deep roots in both the industry and the community, as evidenced by its 97-year track record of success.”
“For generation after generation, Carolina Pride has been a fixture in our hometown of Greenwood,” said Marie Barnette Gwinn, daughter of William A. Barnette Jr., along with Katherine Heyward Barnette and William A. Barnette IV, children of William A. Barnette III. “We’re delighted that the company will continue to serve our community and its customers for many years to come. We know W.A. Barnette Jr. and W.A. Barnette III would be proud that our family’s legacy will carry forward with Gordon Brothers, a company that values family heritage just as much as we do.”
Michael Cox, president of Carolina Pride since 2016, will continue to lead the company. His existing management team will remain in place as well.
“Much has changed since our founding in 1920, but we have never wavered in our commitment to Dr. W.A. Barnette’s vision of producing the highest quality meat products,” said Michael Cox, president of Carolina Pride. “It is this dedication and passion for quality products and exceptional customer service that has made this small family-owned business one of the most successful packaged meat producers in the entire Southeast. We look forward to continuing on in the tradition of the Barnette family.”
About Gordon Brothers
Since 1903, Gordon Brothers has helped lenders, operating executives, advisors, and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, operations, investments, and dispositions. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial, and industrial sectors to put assets to their highest and best use. Gordon Brothers is headquartered in Boston, with 25 offices across four continents.
About Carolina Pride
Carolina Pride originally began its operations as a small family-owned and operated sausage producer in 1920. Carolina Pride currently employs more than 500 people at its Greenwood, South Carolina processing facility, serving customers throughout the Southeast.