BREAKING NEWS

Bain Capital buys Manischewitz

APRIL 9, 2014 23:18

The Manischewitz Company, well known for its kosher food and wine, has been sold to Sankaty Advisors, the credit arm of equity firm Bain Capital, The New York Times reported.

The New Jersey-based brand’s new owners plan to broaden its customer base to non-Jews by marketing its kosher status as a sign of quality.

“It’s a pretty powerful certification to be kosher, because it means you are holding your product to a very high standard,” new interim CEO Mark Weinstein, who is a Reform Jew, told the Times. “Why is that not applicable to people who don’t keep kosher?” Manischewitz’s chief rabbi, Yaakov Y. Horowitz, told the Times he had a “very positive feeling” about the sale, and agreed that the company’s reach could expand.

“There is, I believe, a consensus among American consumers that the more supervision the better,” he said.

“There was always a good feeling in American culture about kosher.”

Manischewitz was founded in 1888 and by 1990 was responsible for 80 percent of matza sold in the United States. It is also famous for its wine, macaroons and crackers, among other kosher products.

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