Falfurrias Capital Partners, a Charlotte-based private equity firm, completed the investment in Carolina Foods, a manufacturer of sweet baked goods including the company's own Duchess line of products. Financial terms were not disclosed. "We have been aware of Carolina Foods for a number of years and have been impressed by the success of the business. We always enjoy partnering with companies in Charlotte, and this deal is especially exciting to us given our recent focus on the packaged foods market. We feel we can add a great deal of value to the company based on our team's knowledge of food manufacturing, marketing, and distribution," Chip Johnson, Falfurrias Partner.