April 14, 2015

New CEO Ushers in New Era of Growth for Manischewitz

Newark, NJ — After an extensive search, the Manischewitz Company appointed David Sugarman, a leading specialty food industry veteran, as President and Chief Executive Officer of the oldest kosher food manufacturer in the US.  Sugarman most recently served as President and CEO of The Allan Candy Company, a division of The Hershey Company. Since being acquired by Sankaty Advisors, the credit affiliate of Bain Capital nearly a year ago, the company is said to have made significant strides under its interim CEO, Mark Weinsten. The company, which was founded in 1888 by Rabbi Dov Behr Manischewitz was sold in 1990 by Bernard Manischewitz for $42.5 million to Kohlberg & Co. In 1998, the company was sold to Millbrook Distribution Services, a subsidiary of R.A.B. Enterprises for $124.7 million which was then sold to the Harbinger Capital Group in 2007. The company was managed in recent years by Paul Bensabat and Alain Bankier of the Saveur Food Group. Sources told KosherToday that Manischewitz had an “extremely strong Passover.” The company focused on many new product additions in recent years and has also upgraded its packaging and overall image.