BLOOMINGTON — Frozen food delivery company Yelloh has formed a partnership with a New York private equity group, Yelloh announced last week. Spokespeople for the company said they hope the move will continue to transform and grow their business.

In a news release, Yelloh said the company was partnering with 4×4 Capital, a New York-based investment platform. Paul Schwan will continue to serve as chairman of Yelloh, the release said. At the same time, 4×4 Capital co-founder Alex Medicis will assume the role of interim CEO, as the business searches for a permanent chief executive officer.

“At Yelloh, we’ve been on a journey to transform and elevate our business into a modern, mobile retailer capable of delivering delicious frozen food and meals no matter where or how our customers want to access our products,” Schwan said. “As customer demand for frozen continues to surge, we believe that now is the time to make even bolder moves to ensure Yelloh is the category leader we know our business can be. Along with their investment, the 4×4 Capital team brings combined experience of over 100 years at the intersection of route-based and food and beverage platforms. They have an impressive operational track record of exceeding growth and profitability targets, and we are excited to partner with them.”

The news release said 4×4 Capital was making a “significant monetary investment” with the partnership, although terms of the transaction were not disclosed.

“We see lots of growth opportunities as consumers increasingly look for quality products and convenience of delivery in the growing home delivery and frozen food markets,” said Medicis. “We believe in Yelloh’s reinvention ambition and potential, and recognize the unique heritage of over 70 years, built by the Schwan family, of delivering exceptionally delicious food and extraordinary experiences to Yelloh customers and teams. We look forward to building this next chapter together.”

Yelloh, formerly Schwan’s Home Delivery, kicked off a brand transition in 2022. The company’s new name, Yelloh, paid tribute to Schwan’s Home Delivery’s signature fleet of yellow trucks.

Schwan’s home delivery business was founded in 1952 by Marvin Schwan, and later grew to become a food manufacturer and marketer. In 2018, the Schwan family sold a majority stake of Schwan’s Company to Korean firm CJ CheilJedang, but kept ownership of the home delivery service.