A Boston private equity firm has brought in Bill Johnson, former H.J. Heinz Co. chairman, CEO and president, as an operating partner.
Advent International this morning announced that Mr. Johnson, who left Heinz last year after the Pittsburgh-based food company was sold and taken private, will work to identify investment opportunities in the consumer industry. He’ll focus in particular on the consumer packaged goods and food businesses where he has extensive experience.
In the past, Advent has invested in businesses like Party City, Five Below, DFS Furniture, Charlotte Russe and the Coffee Bean & Tea Leaf. The private equity firm was founded in 1984 and reports $32 billion in assets under management.
Mr. Johnson also serves on the boards of Emerson Electric, UPS and Education Management Corp.
This morning’s announcement said the firm’s operating partner program includes more than 60 senior industry executives who work as independent consultants to Advent.
Teresa F. Lindeman: firstname.lastname@example.org or at 412-263-2018. First Published July 2, 2014 12:00 AM