The Manischewitz Company, well known for its Passover foods, was sold a week before the holiday.
Sankaty Advisors, an arm of the private equity firm Bain Capital, purchased the Newark, NJ-based purveyor of kosher foods for an undisclosed price, The Associated Press reported Tuesday. The deal had been first disclosed late Monday night by The New York Times.
Under its new owner, Manischewitz is expected to promote kosher as an indication of quality food rather than just a religious designation, according to the Times.
“This investment reflects our confidence in the Manischewitz brands and team,” Sankaty Advisors said in a statement last week. “Manischewitz has earned a position as one of the most highly recognized brands in the world, and it has distinguished itself through a passionate commitment to producing the highest quality kosher products possible. We believe Manischewitz is well positioned to grow due to rising mainstream interest in kosher foods.”