Private investment house Ardian has announced the acquisition of a majority stake in Florida Food Products (FFP) from MidOcean Partners for an enterprise value in excess of $1 billion.
Founded in 1954, Florida Food Products is a producer of vegetable and “fruit-based” clean label ingredients. The firm is described as the largest provider of clean label cures for the protein sector, with a rapidly growing portfolio of natural ingredients with application across all segments of the food and beverage industry.
“We have deep expertise and an extensive network in the ingredient sector, which we will leverage to support the Company’s global expansion strategy”, said Ardian Buyout managing director Christopher Sand. “Florida Food Products is an impressive organization with tremendous growth opportunities and a wide range of capabilities, reflecting the successful implementation of MidOcean and management’s ambitious growth strategy. Our investment in FFP comes after more than two years of dialogue with MidOcean and reflects our shared vision for the business. We couldn’t be more delighted to partner with them on FFP’s next phase of growth”.
Source: Ardian (via Business Wire)