NEWARK, NJ — The Manischewitz Company, one of the world’s largest kosher manufacturers, has been acquired by Sankaty Advisors, the credit affiliate of Bain Capital. With approximately $20.3 billion in assets under management, Sankaty invests in a wide variety of securities and investments.
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 Mark Weinstein would be heading the company. Industry sources told KosherToday that Manischewitz is having an extremely strong Passover. The company has focused on many new product additions in recent years and has also upgraded its packaging and overall image.