Tricor Pacific Founders Capital Acquires Totally Chocolate LLC

Chocolate Works Acquires Moonstruck Chocolate Co.

June 30, 2022

Food & Beverage

Chocolate Works (Freeport, New York) acquired substantially all assets of Moonstruck Chocolate LLC (Portland, Oregon) for an undisclosed amount, closing in June 2022. The purchase gives Chocolate Works a West Coast presence and expands its branded and private-label chocolate manufacturing capabilities while preserving service for existing Moonstruck customers.

Baring Private Equity Asia Acquires Tricor Group from Permira

November 2, 2021

Professional Services

Funds affiliated with Baring Private Equity Asia (BPEA) have agreed to acquire Tricor Group from Permira in a transaction that values Tricor at an enterprise value of $2.76 billion. The deal, expected to close in H1 2022 subject to regulatory approvals, gives BPEA a platform to support Tricor’s continued growth across Asia; Tricor serves ~50,000 clients with roughly 2,800 employees across 21 markets.

Chocolate Works (Insignia-backed) Acquires Thompson Chocolate

May 13, 2025

Food & Beverage

Chocolate Works, a portfolio company of Insignia Capital, has acquired Thompson Chocolate, a Meriden, Connecticut-based manufacturer of specialty and foil-wrapped chocolate novelties. The transaction — facilitated by Insignia Capital Group/Insignia Capital Partners — is Chocolate Works' second add-on (after Moonstruck) and expands the platform's private-label, co-manufacturing and foil-wrapping capabilities for retail and branded customers.

Trek One Capital Acquires Alter Eco Foods

February 1, 2024

Food & Beverage

Trek One Capital, a Houston-based private equity firm, has completed the acquisition of Alter Eco Foods, a premium organic chocolate and snack manufacturer. Trek One will partner with recently appointed CEO Keith Bearden to grow Alter Eco’s presence in the organic/natural retail channel across the U.S., Canada, Australia and New Zealand.

Capol (Freudenberg Group) Acquires Blue Pacific Flavors

September 4, 2025

Food & Beverage

Capol, a Freudenberg Group company and global leader in confectionery coatings, has acquired Blue Pacific Flavors to create an expanded global food ingredients platform combining flavors, coatings, and product development capabilities. Blue Pacific Flavors will remain led by CEO Donald Wilkes and will continue operations as part of the combined group to accelerate innovation and expand customer reach across North America, Europe and Asia.

Reddy Family and Bain Capital Back Formation of Trillium Foods

June 11, 2025

Food & Beverage

The Reddy Family has launched Trillium Foods, a North American liquid food and beverage manufacturing platform, and secured an investment from Bain Capital’s Private Credit Group to support growth. The company consolidates Flavor Reddy Foods with recent acquisitions Dominion Liquid Technologies, Lancaster Fine Foods, and Southern Classic Food Group, operating a combined manufacturing footprint of more than 500,000 sq ft and roughly 500 employees.